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Phoebus comment on BoE mortgage borrowing figures today – “extremely encouraged”
29 November 2024
Richard Pike, chief marketing and sales officer at Phoebus, said: “What these figures tell us about economic trends and developments is that people are feeling more confident to take on mortgage debt than they have been for a while, and lenders are in good shape to lend.
“The mortgage industry can feel extremely encouraged that, with the political disruptions of 2024 now put to bed, we’re continuing to move in the right direction, with mortgage approvals now at their highest level since August 2022. I expect we’ll see an escalation in borrowing in Q1 2025 and well on into the year, as interest rates settle and customer and investor confidence rises.”
