There were 65,778 house purchase approvals across the UK in January, a
whopping 9.1 per cent increase over December and the largest single
month-on-month increase since April 2009.
This comes despite a drop in the
number when analysed over the past 12 months as a whole. The approvals granted
in January were actually 12.9 per cent lower than those of January 2014, which
recorded 75,557.
Loans to higher LTV borrowers grew
20.1 per cent between December and January. The first month of 2015 saw 10,064
loans to borrowers with deposits worth 15 per cent or less of their property’s
total value, compared to 8,378 in December.
While this month-on-month growth is
partly due to the increase in the total number of approvals, higher LTV
borrowers also occupied a larger proportion of borrowers in January – 15.3 per
cent of borrowers were higher LTV, compared to 13.9 per cent December.
On an annual basis, the proportion
of higher LTV borrowers is 1.7 percentage points higher than January 2013, when
they made up 13.6 per cent of all house-purchase loans.
The data was compiled for online
surveying firm e-surv.
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