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Comment on the Bank of England money and credit results for June from Simon Webb at LiveMore
29 July 2022
Simon Webb, managing director of capital markets and finance at LiveMore Capital, commented: “The drop in mortgage borrowing by some £2.7 billion heralds the move towards the slower time for house purchases during the summer months.
“However, combined with a drop by 2,000 of approvals for house purchases, these reductions may also reflect a growing nervousness in the market as interest rates rise.
“That said, at £5.3 billion, the level of borrowing still sits above the 12-month, pre-pandemic average up to February 2020 of £4.3 billion.”
