- Proportion of borrowers with small deposits rises
- House purchase approvals down on last year but rising since EU referendum
- Northern Ireland top location for borrowers with less than 15% deposit
The UK mortgage market continues to experience a degree of flux following the decision to leave the European Union at the end of June, but there is an improving picture for would-be borrowers.
The number of mortgage approvals grew month-on-month in August, although fewer borrowers are achieving their housing aspirations than a year ago.
The latest Mortgage Monitor from e.surv, one of the UK’s largest residential chartered surveyor, found that 63,972 house purchase mortgage approvals (seasonally adjusted) were made during August. This figure is 10.3% lower than the number of approvals made in the same month a year ago.
Source: E.surv mortgage monitor, August 2016