81,338 mortgages were approved in June 2021, 21% above the 2014 to 2019 June average.
Despite house prices increasing to an all-time high, mortgage payments haven't followed suit.
Mortgage rates are close to an all-time low, so affordability has remained in line with the long-term average.
First-time buyer lending is up 25% on last year (Zoopla), thanks to low mortgage rates and increased availability of high LTV (loan to value) mortgage products.
With many searching for larger properties and more space, the number of properties available for first-time buyers has remained steady.
Average asking prices in this market are up just 3.4% year-on-year (Rightmove)
For all your mortgage queries, contact Nikki or Sophie at Finesse Mortgage Services https://www.finessemortgageservices.co.uk/
Are you thinking about your next move? Book an appointment with Barry today to find out the current value of your home.
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