The mortgage market experienced significant growth during September, with total sales rising by 8.4% to £1.2bn.
In addition, buy-to-let mortgage figures also rose by 19% to reach £2.9bn. Residential sales also increased by 6.2% to £12.2bn.
Regional mix
By region, performance was varied over the course of the last month. The North West and London came top of the table for buy-to-let mortgage growth, with rises in sales of 12.7% and 11.7% respectively.
On the other end of the scale, Scotland and Northern Ireland saw the worst monthly growth, of just 1.9% and 0.7% respectively.
Buy-to-let mortgage sales up by 19% in September
Mr Iain Hill, Relationship Manager, at Equifax Touchstone, noted: ‘With unseasonal gains in August and encouraging figures for September, the market is showing positive signs for a strong end to the year. These healthy figures are very welcome, particularly in buy-to-let, where we have seen a number of new market entrants in the last year or so.’[1]
‘Although we still have a way to go to get back to the levels of business seen in 2015, the signs are promising. We are watching with great anticipation to see what this year’s unpredictable market will reveal next month,’ he added.[1]
[1] http://www.propertyreporter.co.uk/finance/buy-to-let-sales-surge-19-in-september.html