Comment on the HMRC property transactions for October from Adam Oldfield at Phoebus Software

30 November 2023

Adam Oldfield, chief revenue officer at Phoebus Software, says “Reflecting the lower number of approvals over the last quarter the figures today were what was expected. However, seeing yesterday that approvals were up in October (BoE), perhaps the end of 2023 will prove to be more buoyant than we might have imagined a few months ago?

“Mortgage rates continue to fall, but when swap rates have increased a little in the last few days that trend may not continue at the same pace as we head to the end of the year. For borrowers though it will be the headline news that some two-year fixed rates have dropped below five per cent that may encourage more to fix. The performance in the market continues to see-saw and, with arrears continuing to rise, it’s going to be an interesting end to the year for lenders and brokers alike. The key, as ever, is to have all the right systems in place and make the most of whatever opportunities arise.”