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Buy-to-let mortgage sales up 6% in September PDF Print E-mail
Thursday, 26 October 2017
September buy-to-let mortgage sales rose by 6.0% (£159.7m) on August, according to Equifax Touchstone analysis of the intermediary marketplace. Year-on-year however, sales were down 5.0% (£148.1m).  

Total sales for the UK, including residential, reached £14.44bn, up 0.9% (£127.2m) on the previous month, and down 5.8% (£896.9m) year-on-year. Residential sales for the month fell by 0.3% (£32.5m).

In terms of regional sales, North West England and Northern Ireland topped the list, both up by 4.3% on August. Meanwhile Scotland and Wales saw the biggest drop in mortgage sales during the month, falling by 5.1% and 5.6% respectively.

John Driscoll, Director at Equifax Touchstone, said: “Total mortgage sales have remained broadly steady for the last three months, showing some resilience against Brexit uncertainty. However we now face a potential rate hike in November, which could signal caution among potential buyers and prompt a downturn in the market. Alternatively, speculation around cuts to stamp duty in the upcoming Autumn Budget could become a reality, balancing this out and incentivising buyers to take the plunge.”

The data from Equifax Touchstone, which covers the majority of the intermediated lending market, shows that the average value of a residential mortgage in August was £196,426 (2016: £189,394) and £157,380 for buy-to-let (2016: £158,232).
 

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