Phoebus Software comments on BOE Money & Credit data
29 June 2026
Richard Pike, sales and marketing director at Phoebus Software, said:
“The mortgage market showed signs of stabilising in May after the volatility of the previous two months.
“Borrowing eased back slightly from April’s levels as rates remained relatively steady and lenders maintained a cautious stance on affordability, while approvals edged lower, suggesting demand has softened but is still there.
“While activity is still below long-term averages, the market continues to demonstrate a degree of underlying resilience.
“With inflation continuing to come under control and the Bank of England holding rates, confidence should start to improve. That should help support a return of some pent-up demand over time, although any recovery is likely to be measured rather than immediate.”
