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.”

Join our mailing list:

Leave a comment



Latest Comments

Scott Garnet
Scott Garnet 06 Nov 2017

If you have a patio or a porch it is important to make sure that any connecting doors are secured. Good advice for sliding glass doors is replacing the panels with storm resistant glass and getting heavier...

view article
richardrawlings
richardrawlings 01 Nov 2017

What has not been mentioned here is the effect of not only higher interest payments, but also that these payments are less likely to be offsettable as a business cost due to the scaling back of mortgage...

view article
Kelvin Lloyd
Kelvin Lloyd 09 Oct 2017

IT is up, to the Planners. If they will only give permission for bungalows on certain (suitable) sites, they will be built.

view article
maggie swift
maggie swift 09 Oct 2017

It's just the beginning of the shocking rise.

view article
maggie swift
maggie swift 09 Oct 2017

I have recently read that the bungalows can provide social housing for elderly residents in London.

view article
zoe glover
zoe glover 05 Oct 2017

Update! Worst company I have ever dealt with. Undervalued a Cambridge property by over 100k, wont take on any evidence of valuation including a RICS valuation done 3 years ago for the very same value...

view article
Paul Edwards
Paul Edwards 27 Sep 2017

Its nonsense articles such as this that make it harder to get clients to realise just how difficult the market is out there. When you see Rightmove and there are more 'price reduced' then 'new' most days...

view article
Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

view article
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

view article
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...

view article
Mark N.
Mark N. 30 Aug 2017

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

view article
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...

view article

Related stories

More articles from Finance