Mortgage approvals see sharp increase during April

Homebuyers continued to take advantage of low mortgage rates during April with approvals up 2.7% year-on-year, according to the latest data and analysis from e.surv. According to the figures, there were 65,781 mortgages approved during April 2019, with the proportion of all loans given to customers with a small deposit, including most first-time buyers, being 28.5% – an increase on the 26% recorded in March and indicative of how lenders are turning their attention to first-timers, given the slowdown in other parts of the market. “In many parts of London and the South East, the property market continues to move slowly. Yet this has not translated into the mortgage market with activity remaining strong,” said e.surv director, Richard Sexton.

Property Reporter (15/05/2019)