Commenting on this morning’s Mortgage Trends data from UK Finance, John Phillips, national operations director at Just Mortgages, said: “If November’s figures were damning evidence of the damage caused by the political drift and delay that has characterised the last few years, the December numbers released this morning are a sign that we may finally have turned a corner.
“The general election took place halfway through the month and since then there has been a strong sense across the market that things are picking up. Although loans to first-time buyers are still fractionally down on the previous year, a 3.2 per cent increase in new loans to home-movers suggests that existing homeowners looking to make their next move on the ladder are finally beginning to come back to the market.
“This compares very favourably with the 10 per cent year-on-year falls last month and gives cause for some mild optimism that we may be seeing the much-talked-about ‘Boris bounce’ materialising. Whether it will last, is another matter.”