UPDATED

Commentary: Record-high mortgage approvals may not be here for the long-term

NEWS
COMMENTARY
GUIDE

We give market commentary when journalists or news outlets approach us directly for comment on specific topics. We share our commentary here too. See below.

This is great news on the face of it and the figures certainly portray a very healthy market. However, it’s probably a little too soon to pop the champagne and wave goodbye to any detrimental pandemic-induced market declines.

Mortgage approval record-highs

"

In response to the news that mortgage approvals are rising at their fastest rate since 2007:

This is great news on the face of it and the figures certainly portray a very healthy market. However, it’s probably a little too soon to pop the champagne and wave goodbye to any detrimental pandemic-induced market declines.

Pent-up demand, not a long-term trend

Current approvals figures may well be skewed by pent-up demand, as sales that were agreed prior to the pandemic begin slowly moving forward again. But with the concerns around a recession and with the furlough scheme soon to end, it’s unlikely this level of momentum will be maintained in the long-term.

We're already seeing a rise in homeowners contacting us for our "buy my house now" service, which can be an early warning sign that home sellers are finding frustration in the traditional property market.

For the time being, this honeymoon period of mortgage approvals and house price growth will help boost market sentiment. But we could soon find ourselves in a very different place over the coming months.

"

In response to the news that mortgage approvals are rising at their fastest rate since 2007:

This is great news on the face of it and the figures certainly portray a very healthy market. However, it’s probably a little too soon to pop the champagne and wave goodbye to any detrimental pandemic-induced market declines.

Pent-up demand, not a long-term trend

Current approvals figures may well be skewed by pent-up demand, as sales that were agreed prior to the pandemic begin slowly moving forward again. But with the concerns around a recession and with the furlough scheme soon to end, it’s unlikely this level of momentum will be maintained in the long-term.

We're already seeing a rise in homeowners contacting us for our "buy my house now" service, which can be an early warning sign that home sellers are finding frustration in the traditional property market.

For the time being, this honeymoon period of mortgage approvals and house price growth will help boost market sentiment. But we could soon find ourselves in a very different place over the coming months.

IN THE NEWS

Browse coverage of this news piece

Our research, guides and commentary are picked up weekly by journalists at national and regional news outlets. See where this one has been covered so far.

September 29, 2020
PRINT ONLY
Mortgage approvals rebound to 13-year high
September 30, 2020
PRINT ONLY
Mortgage approvals increase at sharpest rate since 2007
September 29, 2020
PRINT ONLY
Mortgage approvals surge to a 13-year high
September 29, 2020
PRINT ONLY
Mortgage approvals hit 13 year high as market continues to boom
September 29, 2020
PRINT ONLY
Mortgage approvals surge to 13-year high

A BIT ABOUT US...

Selling your home to Yes Homebuyers

  • Yes Homebuyers buy your home directly from you so you can sell your house fast and avoid waiting around to find a buyer on the regular market. 
  • We offer flexible timeframes to suit you and on average, complete a sale within 30 days. 
  • Yes Homebuyers' quickest completed purchase was made in six days. 
  • We guarantee the price we will pay, unlike some buying platforms who reduce their offer shortly before completion.
  • There are no fees or costs involved and we cover all legal fees involved.
  • There are no contracts or tie-ins even if you accept an offer, and no viewings to take care of.

IN THE NEWS

Latest Insights

We share our experts' weekly research articles free of charge.

Timely insights and analysis from our experts

Covering today's most important property topics

Featured weekly in national and regional news

As featured in

...AND MANY MORE

FREE VALUATION
No Obligation

Ready for a faster house sale?
Let's get started.

Get An Offer