Rate of successful UK mortgage application through intermediaries up


Overall, the rate of mortgage applications resulting in completions came up to 69% during the first quarter of this year, an increase from the 49% during the previous quarter.

The tracker report published by the Intermediary Mortgage Lenders’ Association (IMLA) also shows that 67% of first-time mortgage application received approval, a significant increase from from the 48% during the same period in 2016.


The quarterly report follows the journey of a mortgage applicant through the intermediary channel from initial enquiry through to completion for first time buyers, home movers and buy-to-let borrowers among others.

The tracker also revealed that – despite housing affordability still being extremely low – prospective first-time buyers are making more enquiries and applications than twelve months ago.

The rate of first-time buyers applying and resulting in completion has been steadily growing over the last year. In Q2 and Q3 of 2016 about 49% of first-time buyer applications through intermediaries were completed, a number that increased to 53% during last year’s Q4.


Peter Williams, IMLA executive director, commented: “First time buyers’ struggles have been highly publicised, with affordability stretched by rising house prices and modest income growth. However, rising levels of mortgage enquiries, applications and completions shows that a significant number of first time buyers are still both willing and able to get a foot on the property ladder.”

“Low mortgage rates have contributed to this improving outlook for first time mortgage borrowers. However, with the Bank of England reporting that average rates are creeping up on the higher loan to value (LTV) products that buyers with modest deposits rely on, policymakers must continue to do their upmost to support lending to this part of the market.”

Overall, the wider intermediary market appears to be improving with the rate of mortgage applications resulting in completions across the intermediary channel reaching 69% during the first three months of 2017.

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800


Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator


Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.


Not a member? Sign up for free

Rate of successful UK mortgage application through intermediaries up

Rate of successful UK mortgage application through intermediaries up


By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.