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Comment on the Bank of England gross lending figures for October PDF Print E-mail
Wednesday, 29 November 2017
John Phillips, Just Mortgages and Spicerhaart group operations director, says “As a Bank of England rate rise became more realistic public perception increased and with it the need to ensure they had the best mortgage deal in place for the longer term.  Although there has been an increase in first-time-buyer activity, remortgage volumes are definitely a key component that is keeping the market at this level.  

“The opportunities that remortgages will provide to brokers in the coming months cannot be overstated. The budget announcements might have been good for first-time-buyers, but supply is still a big problem. Although the government’s plans are admirable, we cannot build new houses overnight. Until more homes get into the supply chain there is little opportunity for many homeowners to move up that chain. Advisers will need a good back book, and contact strategy, if current levels are to be sustained.”
 

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