Mortgage approvals remain at record highs despite market uncertainty

Managing Director of One 77 Mortgages, Alastair McKee, commented:

 

“The latest mortgage approval numbers, whilst a smidgeon below forecast, have remained at a very healthy level indeed. In fact, along with the previous month, they represent some of the highest numbers since March 2017.

 

Buyers are evidently no longer being deterred from the market and indeed are seeking mortgages at almost record numbers. The latest figures also represent the strongest June performance since 2015 and one has to ask, how strong would the property market be without the current headwinds of Brexit uncertainty and, arguably, an even more uncertain prime ministerial race?”

 

Director of Benham and Reeves, Marc von Grundherr, commented:

 

“We’ve long predicted a post-Brexit bounce in the UK property market and low and behold we are seeing this already in today’s mortgage data.

 

As Brexit becomes wearing for would be home buyers, they are beginning to jump in with both feet resulting in more mortgage approvals than we have seen in all but one month since 2017.

 

This will only be a positive thing for the market as heightened demand will reverse the previous price growth declines we’ve seen across much of the market.”

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

Breaking Property News – 28/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   tlyfe the tenant App gets huge marketing boost from national team tour from the Openbrix team As many will know tlyfe, powered by OpenBrix, is the UK’s most innovative tenant lifecycle app, taking the stress out of the move in process and helping to…
Read More
Breaking News

Over Four Out Of Five Tenants Unaware Of The Renters Reform Bill

OVER four out of five tenants remain unaware of the Renters (Reform) Bill and its contents, according to new research. The data comes from a representative survey of over 2,000 private renters conducted by the TDS Charitable Foundation, which works to advance education about housing rights and obligations in the private rented sector. The Bill…
Read More
Estate Agent Talk

What is Property Damage in a Personal Injury Case?

Property damage refers to any damage that affects things instead of a person. This might include damage to your car, house, etc. As such, it is not regarded as a personal injury case. However, when an individual is injured when the accident occurs, the affected person can file a personal injury claim. A typical example…
Read More
Love or Hate Rightmove
Breaking News

Rightmove comment on new 99% first-time buyer mortgage product

Matt Smith, Rightmove’s mortgage expert said: “It’s encouraging to see lenders continuing to try to innovate in the mortgage market, even after the government abandoned its own plans to encourage lower deposit mortgages in the Spring Budget. This new product has the potential to help some first-time buyers who fit the affordability criteria, but are struggling…
Read More
Breaking News

Breaking Property News – 27/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Coadjute ahead of the game as they are already licensed to provide digital TA6 Forms to property stakeholders This week, the Law Society announced its TA6 Form will now include Material Information as per the the National Trading Standards Estate and Letting Agency Team…
Read More
Breaking News

Breaking Property News – 26/03/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Sharing Success: The Guild Conference and Awards celebrate Member achievements The QEII Centre in Westminster, London, was abuzz with excitement on Friday, 22 March 2024, as The Guild of Property Professionals hosted its highly anticipated annual Guild Conference and Awards. Under the theme ‘Sharing…
Read More