Mortgage market grew in June 2017 according to e.surv Mortgage Monitor
The latest Mortgage Monitor from e.surv reveals that the mortgage market grew in June but lending to small deposit borrowers shrank over the month.
Their data shows that there were more mortgage approvals in June 2017 than previous month and June 2016, there were £65,887 loans approved in June, a total 1.4% higher than the same point in 2016.
The proportion of borrowers with large deposits has grown since May, small deposit buyers were down from 21.3% in May 2017 to 18.5% in June, Yorkshire sees highest proportion of small deposit borrowers.
Richard Sexton, director of e.surv, comments: “It is great news that the mortgage market is growing once again. Approvals are up both compared to last month and June 2016.
“With the whole market moving this means that homeowners are able to move up the ladder, or to downsize if they need to. This also creates room at the bottom for first-time buyers to jump onto the ladder in future months.”
Monthly Mortgage Monitor from e.surv available at LSL Property Services