Bridging loan activity bounces back
Short-term property lending has increased, while the traditional mortgage market has slumped in the face of rising interest rates.
Bridging loan activity surges 68% amidst mortgage market uncertainty
Increase in short-term property lending has been driven by demand from residential homeowners.
Mortgage borrowing continues to slide
Fresh data from UK Finance and the Bank of England shows a sharp decline in property lending.
Mortgage approvals have fallen by 26% in the last year
Mortgage lending has dropped to the lowest level on record, if the period since the onset of the Covid-19 pandemic is excluded.
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