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Bank of England Money and Credit data comment from LiveMore
04 May 2023
Simon Webb, managing director of capital markets and finance at LiveMore, said: “Mortgage lending was flat in March with net borrowing at zero. This is the seventh fall in as many months and the lowest level in 12 years if you exclude the Covid pandemic lockdown.
“However, both house purchase and mortgage approvals increased during the month, so we can take some comfort that the market is moving. This is backed up by estate agents reporting an increase in both buyers and sellers and more houses are becoming available. The indications are that mortgage lending will slowly pick up in the second quarter of this year as will housing transactions.”
