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29 September 2021

Jonathan Sealey, CEO at specialist lender Hope Capital, said: “Of course, it was to be expected the level of borrowing would not compete with the record borrowing in June, which was undoubtedly owing to the opportunities created by the stamp duty holiday.

“After the rush to meet the deadline, it was obvious we were going to see a more sustainable level of activity in the aftermath. However, moving forward, it is crucial the desire to buy properties does not flake.

“Today’s Bank of England statistics also reveal that while mortgage approvals for house purchase were down on recent high levels, they were still 12% higher than pre-pandemic average, which is reassuring.

“Ultimately, the availability of competitive rates, high LTV’s and innovative solutions, will undoubtedly be the driver in ensuring there are plenty of opportunities to be seized by borrowers, now we begin to approach the end of 2021.”