A report by Halifax Intermediaries found that the number of all home loans grew by 6% but mortgage applications for properties sold above £250,000 rose by 9% compared to the previous year and 28% since 2009.

Unsurprisingly, a large proportion of purchases above £250,000 were in Greater London and the South East. Over 145,000 properties above £250,000 were sold in 2012, with almost two-thirds (59%) being in Greater London – the highest, followed by the South East (39%). The least amount of sales were in the North (9%) of the UK.

Ian Wilson, head of sales at Halifax Intermediaries, said:

“High value mortgages can be quite complex, with borrowers having multi-faceted income streams, with bonuses, business profits and investment income often forming part of the overall income picture.

“Due to the nature of these types of cases, lenders need to be flexible and understanding of the requirements of brokers and their clients and provide a knowledgeable specialist team to support them.”