Highest number of house purchase approvals in year-and-a-half
- Summer sees mortgage market strengthen, with 72,712 house purchase approvals in June – largest number since January 2014
- Largest month-on-month improvement since February 2009 as approvals rise 12.8% from May
- Highest number of smaller-deposit borrowers seen in over seven years, with 12,288 higher-LTV loans approved in June
House purchase approvals rallied in June, with strong improvements on both a monthly and annual basis as political uncertainty subsided, according to the latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor.
There were 72,712 house purchase approvals in June, up 12.8% on the 64,434 recorded in May, making June the strongest month for house purchase loans in seventeen months (since January 2014).
The monthly increase – as confidence returned to the market following a period of political uncertainty – is the largest month-on-month improvement since February 2009.
House purchase approvals have also risen significantly on an annual basis, with this June seeing 10.5% more approvals than the 65,794 recorded twelve months ago.