Number of large deposit borrowers drop to lowest level in 2017 according to E-Surv
The latest Mortgage Monitor from e-surv May 2017 headlines ‘large deposit borrowers fall to lowest level in 2017’.
According to e-surv, one of the UK’s largest residential chartered surveyors, the proportion of people buying a home with a large deposit fell in May.
The size of overall mortgage market shrinks compared to last year, North West England sees highest proportion of small deposit lending.
Large deposit buyers – defined as those with a deposit of 60% or more – took out 33.9% of all home loans this month. This is down on the 34.6% recorded in April and is the lowest ratio seen so far in 2017.
Borrowers with small deposits saw their share of the market sip slightly from 21.5% to 21.3% month-on-month.
Richard Sexton, director of e-surv chartered surveyors, comments: “May was a month for the mid-market borrowers as large and small deposit buyers saw their share of the market fall.
“But this can also be viewed as a positive for young buyers. As mid-market borrowers move up the ladder and into bigger properties, this frees up stock for buyers looking to get onto the ladder for the first time.”
Source of information LSL Property Services Plc.
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