Related topic: UK Finance

The move comes as the proptech specialist aims to strengthen its UK presence.

Residential possessions fell by 13% compared to the previous quarter and are significantly below the long-term average.

While possession numbers increased slightly, overall numbers remain significantly lower than long-term averages.

The trade body also believes borrowers may need to wait until 2026 for another reduction in interest rates.

The number of homeowner possessions increased by 10% between Q1 and Q2. 

Possessions increased during Q1, but remain significantly lower than long-term averages.

Possession numbers increased over the quarter, but UK Finance stressed that numbers remain "significantly lower" than long-term averages.