Phoebus comment on MLAR data

09 September 2025

Richard Pike, Chief Sales and Marketing Officer at Phoebus, said:

“The latest MLAR data paints a broadly positive picture for the mortgage market. Overall lending is edging upwards and, importantly, arrears are continuing to fall, with both the number of new cases and the value of balances in arrears now at multi-year lows. This demonstrates the resilience of households in managing repayments despite ongoing affordability pressures. It is also encouraging to see new mortgage commitments at their highest level since 2022, signalling a strong pipeline of activity for the coming months. While gross advances dipped sharply this quarter, the growth in remortgage activity reflects borrowers’ focus on securing the best possible deals in a volatile rate environment. Taken together, the data suggests a market that is steadying, with both lenders and borrowers adapting well to challenging conditions.”