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Commercial Credit News
|Comment: Bank of England gross lending|
|Tuesday, 30 August 2016|
|Richard Pike, sales and marketing director of Phoebus says, “The rise in remortgaging shows that existing homeowners seem to have been positively affected by the cut in base rate last month and the fact that mortgage rates are at an all-time low. The same cannot be said for home buyers. A number of potential house buyers seem to have been put off buying in July; what remains to be seen is whether this is in fact the ‘Brexit effect’ or a normal seasonal downturn that will pick up in September. I expect there to be a further drop off in August’s figures so we will need to wait until the Autumn to see if this is a pause for breath or the start of a more serious downturn.”|
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