Almost nine in ten mortgage applications are now successful

Nearly nine out of mortgage applications made via intermediaries resulted in offers during the second quarter of this year. According to the Intermedi

Nearly nine out of mortgage applications made via intermediaries resulted in offers during the second quarter of this year.

According to the Intermediary Mortgage Lenders Association, the figure of 88% was 13% up on the same period last year, when 75% of mortgage applications were successful.

The quarterly report follows mortgage applicants from initial enquiry through to completion.

First-time buyers fared particularly well, with 88% of their mortgage applications being successful, up from 71% the year before.

Not all applications that resulted in an offer went on to complete, but 81% did – up from 75% last year.

Statistically, 71% of all mortgage applications successfully completed – a rise from 58% at the start of last year.

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