Just Mortgages comments on BoE Money and Credit figures

02 April 2024

Following the release of the latest Bank of England Money and Credit statistics, we have a comment from national brokerage Just Mortgages.

Just Mortgages is one of the largest mortgage brokers in the UK, with more than 650 advisers working across both employed and self-employed divisions. It is part of Spicerhaart, the UK’s largest independent estate agency and property services group.

John Phillips, CEO of Spicerhaart and Just Mortgages, said: “The positive momentum we have seen across the market is certainly continuing, as net mortgage approvals rise once again in February and to its highest point in 18 months. This certainly mirrors what we are hearing from our nationwide broker network, which reported a very busy February – even with half-term in the middle. In fact, our brokers did as much business in the first three weeks of February as they did in the whole of January - and January was a fantastic month.

“With March bringing a strong end to the quarter, it’s encouraging to see that this is becoming more of a positive trend, rather than a new year bounce. Confidence is certainly returning to the market and affordability is showing signs of improvement. A significant drop in the effective interest rate paid on new mortgages is certainly helping.

“As ever, brokers remain essential in helping people get their buying plans back on track, as well as supporting those that are still feeling those affordability pressures. With access to the whole of market, brokers are best placed to help navigate the market and explore a much broader range of lenders to help meet all client requirements.”