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Bank of England gross mortgage lending in November, comment PDF Print E-mail
Thursday, 04 January 2018
Richard Pike, Phoebus Software sales and marketing director, says “November was certainly a busy month, especially for remortgages.  This will continue to be a factor as we head into what the FCA describes as one of the ‘peak periods for interest only mortgages to mature’.  It is unlikely that all those on interest only will be able to pay off their mortgages in full.  Many will be heading into retirement, so it will be interesting to see how lenders react when approached by borrowers in the older age bracket looking for longer term funding.  There could be a real shift in attitude over the next six to twelve months as the landscape changes.” 

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