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Mortgage sales leap up 24%

The latest analysis from Equifax Touchstone has found that, during February, UK mortgage sales hit £14.1bn - soaring up 23.6% from the previous month.

According to the data, residential sales stood at £11.8bn and buy-to-let sales at £2.3bn

North and Yorkshire led the way for the highest regional mortgage sales growth in February with a 27.9% increase compared to January, while Scotland and the Midlands followed behind with notable growth of 26.8% and 25.4% respectively. The North East saw the lowest growth with 16.2%.

John Driscoll, Director at Equifax Touchstone, said: “Following a volatile end to 2016 the mortgage market saw a vast increase in sales last month in every region across the UK. As the UK moves towards triggering Article 50 we will watch with great anticipation to see how the market responds, and whether there will be a noticeable impact on mortgage sales.”

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