More mortgages were approved for house purchases in April

31 May 2019

Richard Pike, Phoebus Software sales and marketing director, “It appears from the Bank of England figures this morning that remortgaging, which has had a big part to play in holding up the mortgage market in the last couple of years, has at last levelled out.

“Of course, for those people that took advantage of the stamp duty relief to move their current deals will have come to an end and we could see another uptick in the remortgaging figures next month.

“With household debt rising consistently remortgaging to a better, less expensive, deal is one way quick way to reduce household spend and even consolidate some debt.

“Conversely, the number of approvals for house purchase increased, which is a good sign for the whole market. As lenders offer better and better rates and deals, it is a good time for people to move up, or down, the ladder.”

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Debbie Staveley
Director and Owner,
bClear Communications

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