Mortgage approval rate falls

‘Official figures from the Bank of England awaiting release are expected to show a 10% fall in mortgage approvals, down 19% from their peak in January. “The introduction of new mortgage regulations at the end of April has taken some of the steam out of housing market activity.

Buyer interest has also come off its highs, though it remains to be seen whether this is lasting,” explains IHS Global Insight’s Howard Archer. The Sunday Times notes the increase in borrowers looking to challenger banks due to high street names taking an increasingly “draconian approach to lending”.

Separately, the paper examines recent changes made to Help to Buy which narrow options for home buyers including: Nationwide restricting Help to Buy equity loans to first-time buyers, Halifax making the scheme unavailable via brokers, and the government instating a 4.5x salary cap limitation.’

Source: The Sunday Times

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

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While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

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Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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