CCR Magazine

You are here  :Home arrow News arrow Freedom Finance comment on BoE Money and Credit statistics released today
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Freedom Finance comment on BoE Money and Credit statistics released today PDF Print E-mail
Tuesday, 01 March 2016

Nicola Georgiou, Managing Director at Freedom Finance, comments on the Bank of England Money and Credit statistics released today; “Today’s statistics show that mortgage and remortgage approvals have continued to rise in 2016. This is due to potential homeowners making the most of low interest rates to secure their dream home and remortgagers looking to switch onto the competitive deals on offer. We expect to see these numbers rise further in February and March due to many existing homeowners rushing to complete purchases on additional properties before the new Stamp Duty rate, which impacts buy-to-let properties and second homes, takes effect in April. 

“An alternative to remortgaging is a second charge mortgage, which can offer a personalised solution to some consumers’ individual financial needs. Second charge mortgages can help a variety of customers to secure additional funds without interfering with their existing mortgage. This solution can be especially beneficial for those who have fallen victim to unfortunate life events, such as divorce or redundancy, and need to review their borrowing and re-build their credit profile. Seconds can also help those hoping to raise more finance than they would typically be able to access from other personal loans. With the arrival of the Mortgage Credit Directive on 21st March, second charge mortgages will come under the same European regulation as first charge mortgages. As a result, certified mortgage brokers will be able to offer these products as part of the advised sales process, which will provide the public with a secure alternative to remortgaging.”

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197