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|Comment on BoE gross lending for January from Richard Pike at Phoebus Software|
|Wednesday, 01 March 2017|
Richard Pike, Phoebus Software sales and marketing director, says “Given the unseasonal finish to 2016 there were many that feared 2017 would start more quietly, but the Bank of England’s figures for mortgage approvals in January say otherwise. With other contributing factors on the horizon including Article 50, no doubt there will come a time when people step back and take stock. For now though both house purchase and remortgage show healthy activity, with building societies and challenger banks also reporting strong lending figures.
“There is some uncertainty regarding base rate increases, which is inevitable. However, with inflation on the rise and house prices continuing to increase, consumers may be more inclined to fix rather than hedge their bets on variable rates.”
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