Just Mortgages comments on BoE Money and Credit statistics

30 June 2025

John Phillips, CEO of Just Mortgages and Spicerhaart, said:

“Despite much doom and gloom following the change in stamp duty thresholds at the end of March, May’s rise in mortgage approvals – along with an increase in property transactions reported on Friday - shows any lull was likely only temporary. It certainly mirrors what we are seeing on the ground throughout our estate branches and the reports from our brokers, with strong demand for valuation requests, buyer registrations and mortgage appointments.

“The housing market continues to show real resilience – even in the face of stubborn inflation and some painful changes that came with the new tax year. This has been helped by continued innovation from lenders and real proactive support from advisers. Just as encouraging is a drop in net borrowing of consumer credit, which shows there is less reliance on the likes of credit cards and that hopefully the heavy financial burden felt by many households is slowly starting to ease. This all helps towards affordability and accessibility as many individuals look to turn appetite into ability with the help of their local adviser.”