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Phoebus comment on BoE money and credit data
01 September 2025
Richard Pike, chief sales and marketing officer at Phoebus Software, commented:
“Today’s Money and Credit figures show a mixed picture for the mortgage market. While net mortgage borrowing fell back in July after a strong June, approvals for house purchases edged higher, suggesting that underlying demand remains resilient despite affordability pressures. The drop in remortgage approvals highlights that many borrowers are still holding off making decisions in the hope of securing a better deal as rates settle. With the Bank of England’s recent base rate cut yet to fully feed through, the coming months will be crucial in determining whether activity levels continue to build momentum.”
