Phoebus Software reacts to latest mortgage borrowing stats
30 January 2026
Richard Pike, chief sales and marketing officer at Phoebus Software, shares his reaction to the Bank of England’s Money and Credit data for December:
“The latest Money and Credit figures from the Bank of England showed mortgage borrowing in December remained flat compared to the previous month. There were a number of factors in play – while the base rate reduction and falling mortgage rates stimulated competition, the housing market tends to slow down in the run-up to Christmas.
“This could explain why net mortgage approvals for house purchase fell, while approvals for remortgaging rose for a second month.
“With falling rates and improving affordability, I’m optimistic that we’ll see mortgage approvals steadily rising in the coming months.”
