Simmonds Mortgages

Mortgage Brokers covering Berkshire and beyond

Call: 01344 225 149 or 07979 690 056

Mortgage Approvals At Decade High

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Mortgage Approvals - At Decade High

The number of home loans approved by the main high street banks in the UK hit its highest level for ten years in July last year, totalling 95,162 approvals. This is the highest monthly total seen since July 2009, when just under 100,000 applications were given the go-ahead.

What's Driving The Growth?

The prime drivers of this growth were new home purchases and remortgage approvals. On an annual basis, remortgage approvals were 19.4% higher, mortgage approvals for home purchases were 16.4% and approvals for other secured borrowing 12.7% higher. This peak in activity can be attributed to a range of factors, including the number of competitive rates available on the market and the fact that July was the month when the odds of a no-deal Brexit reduced, incentivising home-seekers and remortgagers into action.

Approval Numbers Moderating But Still Healthy

Although August approval figures moderated to 85,931 approvals for both home purchase and remortgage loans were higher than August 2018 statistics. In September, there were 85,880 mortgages approved. Mortgages approvals for home purchase were 13.5% higher and remortgage approvals were 23.4% higher than in September 2018.

 

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We can help you!

 

If you would like more information or help with your mortgage please call us on 01344 225 149 or 07979 690 056. Alternatively please send us an email at info@simmondsmortgage.co.uk

 

Your home may be repossessed if you do not keep up repayments on your mortgage

 

Simmonds Mortgage Services is an appointed representative of Stonebridge Mortgage Solutions Ltd and can source the most appropriate cover from its panel of insurers with a free review of you overall protection and insurance needs. As with all insurance policies, conditions and exclusions will apply.

What our Customers Say...

Your home may be repossessed if you do not keep up repayments on your mortgage.

Simmonds Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.

Registered Office: Simmonds Mortgage Services Ltd, Lexham House, Forest Road, Binfield, Berkshire, RG42 4HP. Registered Company Number: 1152 8784 Registered in England & Wales.

There may be a fee for arranging a Mortgage and the precise amount will depend on your circumstances. This will typically be £399.00 paid once the mortgage offer has been confirmed.

There may be a fee for arranging an Equity Release or Lifetime Mortgage and the precise amount will depend on your circumstances. This will typically be £799.00 and is due on completion of the mortgage.

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