12 Nov

Mortgage Monitor - October 2015

Posted 12/11/2015 by: Reeds Rains Press Office

Highest October house purchase lending for seven years

  • October 2015 sees 72,409 house purchase approvals, the highest figure for the month in seven years and up 21.9% from October 2014
  • House purchase approval levels continue to grow, setting a new 22 month record high since January 2014
  • Small deposit lending falters slightly from September to 11,947, but records new post-recession October high

October 2015 has seen the highest October lending levels for the past seven years with approvals rising on both a monthly and annual basis, according to the latest Mortgage Monitor from e.surv, the UK’s largest chartered surveyor.

Overall house purchase lending approvals reached 72,409 in October. This represents a new 22 month record, with the highest total seen since 75,691 approvals in any month since January 2014, and the most in any October since 2008.

On a monthly basis, the number of house purchase approvals has increased by 5.1% from September 2015, which saw 68,874 approvals – taking annual growth to 21.9% since October 2014’s total of 59,392.