Mortgage sales soar 24% in February
Following a volatile end to 2016 the mortgage market saw a vast increase in sales last month in every region across the UK.
UK mortgage sales jumped to £14.1 billion in February, up 23.6% on the previous month, according to Equifax Touchstone analysis.
Residential sales stood at £11.8 billion and buy-to-let sales at £2.3 billion.
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.”