Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Borrower Confidence in Accessing Mortgages Improves, Says BSA

Borrower confidence in accessing a mortgage has grown, according to new research from the Building Societies Association (BSA). The latest BSA Property Tracker found that 37% of respondents now see access to a mortgage as a barrier to buying a home, down from 48% two years ago.

The research also showed that mortgage affordability has improved over the last two years. Fewer respondents cited monthly repayments as a barrier, with the figure dropping from 63% to 55%. However, monthly repayments and raising a deposit remain the top obstacles for 56% of adults surveyed.

The survey found that 16% of respondents believe now is a good time to buy, with some citing a buyer’s market as homes continue to sell below the asking price. When asked about house price expectations, 38% of those surveyed anticipated prices would rise, compared to 14% who expected a fall.

The BSA Property Tracker’s confidence index improved by eight percentage points to minus 18%, but overall sentiment remained negative, as it has for almost five years.

These findings may be relevant for UK letting agents and inventory clerks monitoring market sentiment and potential changes in demand for rental properties, as shifts in mortgage confidence and affordability can influence both the sales and lettings markets.