Phoebus comment on BoE money and credit data

29 October 2025

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

“The latest Money and Credit figures from the Bank of England show the mortgage market bounced back strongly in September, with net mortgage borrowing reaching its highest level since March. It’s customary to see a second surge in the property market after the summer, but nonetheless this is a welcome shot in the arm for lenders, with approvals for house purchases also at their highest since the spring. The drop in remortgage approvals for a fourth consecutive month highlights that many borrowers are still holding off making decisions. In particular, those coming off five-year fixed mortgages in the coming months will be waiting with bated breath to see if rates fall.

“With the current uncertainty in the market, it will be interesting to see how borrowing will be impacted over the coming months.”