Early 2014 has seen a sharp return to the long term supremacy of the mortgage buyer, despite having decreased significantly early last year.
Rising from 40% market share in December 2013 to 60% in February 2014, a combination of consumer confidence and the Help to Buy scheme has brought mortgages back on top.
Donna Houguez, Quick Move Now’s market analyst explains:
“We are now seeing the true impact of the Help to Buy scheme as successful offers made in the last quarter of 2014 are reaching completion stage.
“Bolstering this is the general mood of optimism in the economy – buyers feel more secure in their employment and are thus willing to take on the financial responsibility of a mortgage.
“We are also seeing an increase in buy-to-let investors taking advantage of the low interest mortgages available for the time being.
“On the other side of the equation, there is a downward pressure on the proportion of cash buyers – possibly due to rising house prices impacting the number of ‘cash bargains’ available, making investments other than property more popular for now.”
