Small deposit borrowers now make up over one-fifth of the mortgage market says Richard Sexton (e-surv)

June 29, 2017

Comments from Richard Sexton, director at e.surv, following the latest Nationwide House Price Index figures showing that prices have risen 1.1% month-on-month in June and annual house price growth rises to 3.1%.

His comments: “Our latest Mortgage Monitor shows that small deposit borrowers now make up over one-fifth of the mortgage market. Although house prices are continuing to climb, it is great to see so many small deposit buyers make the most of low interest rates and competitive mortgage offers.

“However, low rates do not offer a solution for those struggling to save for deposits. More affordable housing needs to be built in order to balance supply and demand. In turn this will bring down prices and help regain movement in the home buying market. With Monday’s announcement of a new coalition government in place, we hope our country’s housing issue will become a priority on their agenda.”

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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