Mortgage applications on the rise

Michael Lloyd

September 26, 2019

The number of mortgage applications have risen by 9.8% year-on-year, Experian has found.

This follows the Bank of England announcing the base rate will be held at 0.75% last week.

Interest in fixed rate mortgage types also remains high.

The majority (88.3%) of those searching for a mortgage via Experian in August searched for a fixed monthly repayment deal.

Amir Goshtai, managing director of Experian Marketplace and Affinity, said: “Looking at the most recent barometer data, mortgage applications were up by 9.8% in August 2019 from the same period last year.

“With the Bank of England announcing last week the base rate will be held at 0.75%, it appears people are taking advantage of relatively low mortgage deals despite the general economic uncertainty.”

Some 7.1% of searches on Experian were for a variable repayment type whilst 4.7% were for a tracker.

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