Yorkshire “most favourable place” for FTBs in 2019: e.surv

Yorkshire has retained the number one spot for first-time buyers every month so far in 2019, according to data collected by e.surv.

The overall number of mortgage approvals rose in April, with 65,781 mortgages approved, 2.7 per cent higher than a year prior, and 5.5 per cent higher than in March.

Data collected by e.surv shows that Yorkshire continues to rein number one for borrowers with a small deposit – typically first-time buyers – making up 36.6 per cent of buyers, up from 33.4 per cent recorded in March.

This is followed by the North West at 35.1 per cent, having risen from 32 per cent recorded in March.

In contrast, London saw the highest number of large deposit borrowers at 33 per cent, however, this figure has fallen from 35.2 per cent recorded the month prior.

This was followed by the South East at 28.1 per cent, which too fell month-on-month, from 31.1 per cent recorded in March.

The proportion of activity between small deposit, mid-market, and large deposit borrowers was recorded at 28.5 per cent, 47.2 per cent, and 24.3 per cent, respectively.

e.surv director Richard Sexton comments: “There has been a healthy increase in the proportion of loans going to first-time buyers, showing that lenders are welcoming these customers with open arms.

“In recent years we have seen Yorkshire, the North West and Northern Ireland battle it out to be the most favourable place for first-time buyers to get onto the ladder.

“Yet we have seen a shift this year with Yorkshire taking the lead in every month so far in 2019.”

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