9 September 2021
The average mortgage size increased by £20,000 between August 2019 and August 2021, according to new research from Trussle.
Overall the average amount that homeowners looked to borrow increased from just above £170,000 in August 2019 to approximately £190,000 in August 2021.
Trussle’s data shows that when the stamp duty holiday was announced there was a huge uptick in the loan amounts homebuyers were seeking. In just two months between June 2020 (£179,755) and August 2020 (£200,104) the average amount borrowed soared by over £20,000.
Mortgage borrowing amounts continued to increase during 2020 and into the new year. In May this year, the average mortgage loan size for Trussle customers reached a 24 month high of £210,057.