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Net mortgage borrowing increased from £1.1bn in October 2021 to £3.7bn in November, show new figures from the Bank of England (BoE) However, November’s figure is £2.9bn below the 12-month average to June and is some way off the £9.1bn of net borrowing seen in September. October’s low figure was driven, according to
Purchases were 26% lower than the previous quarter, but 10% higher than pre-pandemic levels in Q3 2019, according to the UK Finance.
House purchase activity being up year-on-year in Q3 despite dropping “sharply” after the June stamp duty deadline is mainly down to borrowers moving home, UK Finance says. In its quarterly household finance review, the trade body describes the drop off that occurred in the third quarter of this year as a “predictable
Mortgage purchase approvals were down to 67,200 in October, from 71,900 in September, according to the latest Money and Credit statistics from the BoE.
Net mortgage borrowing in October came to £1.6bn, shows new stats from the Bank of England (BoE), significantly lower than the £9.3bn recorded in September and the lowest amount recorded since July 2021. The BoE states that this fall was driven by borrowing “brought forward to September to take advantage of stamp