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Commercial Credit News
|Comment: Bank of England statistics|
|Monday, 29 February 2016|
John Phillips, group operations director of Spicer Haart and Just Mortgages says, “The recent hike in mortgage borrowing over the last six months has resulted in an increase in loan approvals for both house purchase and remortgaging. It is possible that this increase has been driven and boosted, in part, by the impending increase in stamp duty, and this has contributed to the current upward pressure on mortgage approvals.
“However, it is clear that lending increases as buyers’ confidence increases. This rise in mortgage borrowing could also be a result of market fundamentals including consumer confidence, strong real income gains and, with mortgage rates expected to fall again, it is likely to remain on an upward trend.”
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