CCR Magazine

You are here  :Home arrow News arrow John Phillips at Just Mortgages comments on the Bank of England's latest figures
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


John Phillips at Just Mortgages comments on the Bank of England's latest figures PDF Print E-mail
Thursday, 02 February 2017
John Phillips, group operations director at Just Mortgages and Spicerhaart says, “Approvals of loans secured on dwellings for remortgaging was higher than the previous six month average, suggesting that the low rates are responsible for the resilience we’ve seen in recent months. This growth in the remortgage sector has enabled homeowners to make substantial savings to their monthly outgoings and it is good to see that more borrowers are taking the initiative and saving themselves money by swapping their current mortgage deal. 

“As we look ahead into 2017, it is likely that remortgaging will remain high as more borrowers will look to remortgage to secure favourable rates. Although the full impact of Brexit is still waiting to be felt in the mortgage market, rising inflation will inevitably apply additional pressure to household budgets. Therefore, any way to help reduce outgoings, such as remortgaging, will be welcome relief to many borrowers.

“Swap rates have also settled down since the beginning of the year and, with gross mortgage lending at an eight year high, let’s hope borrowers continue to take advantage of the low rate environment, as it is possible that confidence will fluctuate in March if Article 50 is declared, as expected.”

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