Yorkshire has been identified as the most attractive region for first-time buyers and those with small deposits.
Surveyors claim the Yorkshire region saw a greater proportion of small deposit borrowers than any other part of the UK in March 2018.
The latest e.surv Mortgage Monitor predicts that 30.3% of all approvals in the Yorkshire region went to first-time buyers and others with small deposits during March.
Yorkshire was the sole region to have a greater proportion of small deposit borrowers than large deposit ones. It saw 24% of its mortgages go to those with larger deposits during March – the lowest ratio in the country.
Meanwhile, London continues to be dominated by those with larger deposits, 41.2% of all loans going to those with big deposits compared to just 13% for small deposit borrowers.
Across England, Scotland, Wales and Northern Ireland, some 19.6% of all mortgage approvals went to those with smaller deposits in March, down from 21.1% in April but still above the low of 17.2% in November 2017.
The number of mortgages approved for borrowers with a large deposit – up to 40% – increased and made up 34.5% of all home loans in March, surveyors say. This is up from 33.1% in February.
The proportion of mid-market borrowers – those putting down up to 25% – remained steady at 45.9% of all approvals.
Richard Sexton, director at e.surv, said: “As talk of a further base rate increase continues to gather momentum, we are seeing many borrowers fix their rate and protect themselves against future rises.
“This has contributed to the growth in the mortgage market compared to last month.
“While the proportion of loans being given to first-time buyers has declined month on month, this month’s data shows the overall market is in a much stronger position than at the end of 2017.”