Keeping the market moving - Comment on the Bank of England money and credit figures for July from Richard Pike at Phoebus Software

31 August 2021

Richard Pike, Phoebus Software’s sales and marketing director, says “There is evidence from today’s figures that the market is, as predicted, starting to slow down after the stimulus of the SDLT holiday was removed. However, it has not come to a grinding halt and the remortgage market is running at a healthy pace, with borrowers increasing their facilities to fund improvements on existing properties or release equity.

“The continued low-interest environment may not be good for savers, but it is giving borrowers a plethora of mortgage deals to choose from. Although, for many the arrangement fees on many of these tempting offers may turn out to be more restrictive that at first glance, there is little doubt that the current ‘price war’ continues to provide inducements, which should keep the market moving, for now.”