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Bank of England October 2021 statistics
29 November 2021
Jonathan Sealey, CEO at specialist lender Hope Capital, said: “The publication of the Bank of England statistics reveals individuals borrowed £1.6 billion of mortgage debt on net in October, compared to £9.5 billion in September.
This comes as no surprise, considering September’s increase would have been driven by borrowing ahead of the winding up of the stamp duty holiday.
The fall in Mortgage approvals was also to be expected and was very likely owing to the aftermath of the furlough scheme
Looking ahead, with interest rates expected to rise in the near future, it is likely there will still be a significant number of investors taking advantage of the low interest rates currently available in the market.”
