Comment on Bank of England Money and Credit figures

Commenting on the Bank of England Money and Credit figures, Jonathan Sealey CEO of specialist short term lender Hope Capital, said: “We’ve seen similar patterns across a range of economic data in recent weeks, where the floodgates opened in the mortgage market in the summer and there have been a lot of opportunities for investors particularly in the buy to let market.

“The stamp duty holiday combined with resurgence in pent up demand has delivered the boost we were hoping for, and that’s reflected in our own business. Comparing the three months from June to August 2020 with the same period last year, we’ve seen new cases rise by 128%.

“So the question is really what happens next, are we on our way back up to pre-Covid levels, or will the coming months look more like a roller coaster than the hoped for ‘V shaped’ recovery.

“We certainly see ongoing opportunities for investors in BTL as fluctuations in the housing market in 2021 may well lead to further spike in demand for rented accommodation.”