UK Mortgage sales hit £16.4bn in March

UK Mortgage sales hit £16.4bn in March
The first quarter of 2017 has shaped up to be a strong few months for the mortgage market, with a notable increase once again in mortgage sales across the UK in March

The latest report from Equifax Touchstone has found that mortgage sales for the UK jumped to £16.4 billion in March, up 15.7% on the previous month. Residential sales rose 15.3% to £13.6 billion and buy-to-let sales increased by 17.4% to £2.7 billion.

The analysis revealed that Northern Ireland saw the highest regional mortgage sales growth in March with a 21% increase on February.

Wales and London followed closely behind with sales increasing by 18.8% and 17.2% respectively, while the North West experienced the lowest growth of 12%.


John Driscoll, Director at Equifax Touchstone, said: “The first quarter of 2017 has shaped up to be a strong few months for the mortgage market, with a notable increase once again in mortgage sales across the UK in March. New record low five year fixed-rate mortgages and signs of a further drop in rates in April, a time historically associated with seasonal house hunting, indicates we may be in luck for another positive month ahead.

However with the triggering of Article 50 at the end of March and recently announced UK elections scheduled for June, the country is set for a bumpy political ride in 2017. It will be interesting to see if the market will react to the impending political uncertainty or if this strong upward trend in mortgage sales will prove resilient.”

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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton
sean benton 01 Sep 2017

Identity theft is a thread for any profession. So,people should stay alarmed. I once take help from a letting agent and came to know that letting agents are taking every precaution to prevent fraudulent...

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan
Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

Interesting point of view.

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Samantha Goodman
Samantha Goodman 11 Aug 2017

It depends on the people, some older adults decide to make a long-distance move in order to live closer to their children or settle in a place with a lower cost of living.

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brandonlee10
brandonlee10 24 Jul 2017

The financial ramifications of the triggering of Article 50, the starting gun for Britain's departure from the EU, are far from clear. Buyers will be most cautious in London, given that buying a home in...

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IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

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IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

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cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

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