Mortgage application volumes up 17% in September – Experian

Mortgage application volumes climbed by 17% in September this year in comparison to figures from September 2019, before the stamp duty holiday was in effect.

Research published by Experian suggested that younger age demographics are fuelling these figures, with average daily mortgage applications up 20% for those in their thirties.

According to Experian, daily mortgage applications were up 14% for those in their thirties when comparing September August this year, and were up 9% for those in their twenties over the same period.

Experian head of consumer affairs, James Jones, said that interest in new home ownership is remaining even after the stamp duty holiday has ended, particularly among younger people.

“Many have been using their lockdown savings to help secure their perfect home, with over a third of people in their twenties (36%) saying that the pandemic had helped them save for a deposit, rising to 41% of those in their thirties,” Jones said. “If you’re planning a mortgage application, it’s important to review your credit score ahead of time.

“With mortgage rates continuing to fall, it’s even more important to know where you stand so you can benefit from the best products.”

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