Active UK mortgage market
New research involving UK mortgages show that applicant enquiries remain relatively robust considering current economic conditions.
The results of the recent National Mortgage Index as supplied by the Mortgage advice Bureau show that while activity dipped slightly in April from the previous month overall the number of mortgage applications at the end of last month was 16 per cent higher than a year ago.
More than 700 UK real estate agents and around 500 brokers supplied data that reveal a substantial amount of people are looking to join the property ladder despite the recent hikes from many mortgage providers and the continuing strict lending conditions. Experts believe the level of mortgage activity supports a certain strength of confidence in the UK property market.
According to the information supplied more than three quarters of applicants prefer to opt for a fixed rate deal in an effort to guard against further rate increases in the next couple of years.