Jackson reckons as interest rates begin to stabilise, more buyers will “stick their heads above the parapet and look for bargains”.
For second charges, or secured loans, he has seen enquiries double since September.
'Mini' Budget chaos or Christmas slowdown?
Scott Taylor-Barr, a Shropshire-based adviser at Carl Summers Financial Services, said the number of purchase enquiries has certainly fallen, but that it is hard to tell whether this is a natural drop the market would expect as it approaches December or whether this is an actual decline in house buying.
Jackson also said it was unclear what percentage of this drop was the natural fall as the UK heads towards Christmas and what is the lasting effect of the "mini" Budget.
One group that has been affected more than most is property investors.
Managing director at Bolton Business Finance, Marcus Wright, said he was expecting to see another fall in mortgage approvals as the impact of the base rate starts to show.
He continued: “We are seeing property investors much more cautious and in some cases shocked at how high rates currently are.
“Higher rates potentially mean that affordability checks and stress tests are harder to pass.”
ruby.hinchliffe@ft.com
