The mortgage market continued to heat up during July, surveyors predict, but it was the large deposit borrowers who were the main beneficiaries.

The latest Mortgage Monitor from e.surv forecasts that large deposit borrowers made up 33.8% of mortgage approvals last month, up from 32.9% in June.

Small deposit borrowers saw a fall in market share from 23.4% to 22.1% over the month, while mid-market borrowers made up 44.1%.

Northern Ireland and Yorkshire remained the best places for small deposit borrowers, making up 32.3% and 32.1% of mortgage lending respectively, while London was at the bottom at 11.4%.

Overall, surveyors have estimated there were 66,590 mortgages approved during July, up 1.5% on June.

Richard Sexton, director at e.surv, said: “Those with more cash to splash took a bigger share of the mortgage market during July, yet there are still great opportunities for small deposit borrowers to get on to the ladder.

“Low rates continue to tempt new borrowers into the market.”