Mortgage lending slumps as interest rates rise
The latest Bank of England data shows a sharp drop in mortgage lending and mortgage approvals in the aftermath of the short-lived mini-Budget.
Mortgage lending dips but approvals rise
The property market is "rife with nerves", says Knight Frank Finance after looking at the latest BoE mortgage numbers.
Mortgage approvals drop as higher interest rates start to bite
The number of home-buyer mortgage approvals has fallen below the pre-pandemic average, according to the Bank of England. “Higher interest rates are starting to bite," says Savills.
Mortgage lending rises back above pre-pandemic levels
Net borrowing of mortgage debt by individuals increased to £7.4bn in May from £4.2bn in April, according to the Bank of England's Money & Credit data. This is above the pre-pandemic average of £4.3bn
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LATEST ARTICLES
Property industry reactions: Bank Rate held at 5.25% for a sixth time
The latest inflation figures are 'encouraging,' says the Bank of England, 'but we are not yet at the point of cutting interest rates.'
Knight Frank names new Heads of London Prime & Super Prime Sales
PCL promotions for Stuart Bailey & Charles Olver.
Boutique Knightsbridge agency acquires longstanding Chelsea firm
NVP has added lettings & management company HLR to its stable & is on the lookout for further acquisitions.
Law firm toasts super-prime success at Chelsea Barracks
Global firm has advised on over £140mn of sales at the top-end resi project in recent months.
Buyer demand ‘mellows’ while property listings rise – RICS
'There is still a strong perception that activity in the market will pick up in the latter part of the year and into 2025, irrespective of any political uncertainty around the general election,' says the…