UK Finance Trends in Lending for November

15 January 2020

Richard Pike, Phoebus Software sales and marketing director, says “It is hardly surprising that the figures for new mortgages are down on 2018 when, as we were only a few months away from the first Brexit deadline, there was flurry of activity.  What the figures do show is that although there appears to have been a lack of confidence to move or buy for the first time, this was not necessarily based on affordability.
 
“The fact that remortgages with additional borrowing increased shows that perhaps people were more inclined to make more of what they have rather than move.  Of course, one other factor that has nothing to do with politics or uncertainty is stamp duty.  This is still a major sticking point and one that many will be hoping is tackled by any housing strategy the government comes up with.  Now that the Budget date has been announced we won’t have long to wait to find out.”

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Debbie Staveley
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bClear Communications

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