Spike in mortgage approvals at the end of 2019

PropertyWire | January 17, 2020

There was a spike in mortgage approvals in December, e.surv’s market monitor found. There were 66,253 residential mortgages approved during the final month of 2019 (seasonally adjusted), a jump of 1.9% from November’s total and an increase of 2.7% when compared to the same month last year. The clear general election result, combined with competitive mortgage rates, are likely to be behind the spike. Richard Sexton, director at e.surv, said: “There have been ups and downs over the course of the year but 2019 ended on a positive note for the UK mortgage market. December’s decisive election result does seem to have put an end to the atmosphere of uncertainty which has dominated the property market this year. With more certainty on the future, it appears that many new buyers and existing homeowners have chosen to enter the market, leading to a spike in approvals in December.”

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Spotlight

Estate Protocol is a platform changing the real estate investing landscape. We believe access to real estate investments should be for everyone, as it is the best way for most people to secure their long term financial future. We are on a mission to make these investments accessible to everyone, and to turn it from an illiquid to a liquid investment unlocking a large amount of value in the world’s largest asset class. We aim to make real estate investments frictionless, solving multiple problems within the crypto space along the way. With an incredibly strong team experienced in both, the real estate market, and blockchain technology, we understand the nuances of the market and the technology required to solve those problems.

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