MORTGAGE APPROVALS HIT 6 YEAR HIGH

I was interested to read a report from Esurv Mortgage Monitor advising that mortgage approvals for June was a new high representing a 10.5% increase compared to last year.  This does not accord with my general feeling about the mortgage market and I am monitoring future reports with interest.  My feeling is that at this stage the mortgage process is harder for people to go through causing huge delays in approvals and loan papers and this is adding extra pressure to the Scottish property transaction.  I will also be interested to see the recent stats regarding first time buyers as again my own feeling is that first time buyers are still struggling to receive the necessary lender assistance.  Mixed messages indeed!

Lindsay Darroch
Partner – Head of Property
www.blackadders.co.uk

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