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Comment on Bank of England Money and Credit data
01 June 2023
Simon Webb, managing director of capital markets and finance at LiveMore, said: “The Bank of England’s money and credit data shows net borrowing of mortgage debt in April at its lowest level in 30 years, which is when the data series started (excluding the Covid lockdown period).
“This is the eighth consecutive fall in mortgage lending and a result of higher mortgage rates and people’s finances squeezed due to the high cost of living.
“Net house purchase approvals rose in February and March but have fallen slightly in April by 2,800, which could be a reflection of a shorter month due to the Easter holidays.”
