Mortgage approvals dip in September: e.surv

There was a slight dip in mortgage approvals between August and September, figures from the latest e.surv mortgage monitor have found.

Statistics from the chartered surveyor show that there were 66,185 mortgage approvals in September, on a seasonally adjusted basis, down by 0.6 per cent from August.

However, approvals are well up on September 2016, increasing by 4.7 per cent.

The proportion of approvals from borrowers with small deposits fell though from 20.3 per cent to 19.8 per cent in the on an annual basis in September.

E.surv director Richard Sexton says: “Mortgage approval rates have remained impressively high over the summer months, as buyers take advantage of low mortgage rates and buy a home for the first time or move up the property ladder.

“It is particularly striking when compared to 12 months ago when the market was contracting following the UK’s decision to leave the European Union. A year later and the housing market is back on its feet and motoring along nicely.”

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