Just Mortgages comment on today's BoE Money and Credit net mortgage approval decline

31 May 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 slight fall from 61,300 net mortgages in March to 61,100 April presents a pause in the upward momentum we’d witnessed in the housing market. But it’s important to analyse this within the broader context.

“At Just Mortgages, we’ve observed a similar trend, with activity moderating after a particularly strong March. This could be due to a number of factors, including potential seasonal fluctuations or buyers taking a wait-and-see approach as rising interest rates are factored into their calculations.

“It’s crucial to maintain perspective. Mortgage approvals remain at healthy levels overall. However, navigating this evolving market landscape requires expert guidance. With swap rates continuing to influence mortgage product pricing, securing the most suitable and competitive rates becomes even more important.

“This is where experienced brokers come to the forefront. Advisors must stay up-to-date on market shifts in order to guide clients through the complexities of securing the right mortgage solution. By offering personalised advice and unwavering support, we empower our clients to make informed decisions and achieve their property goals, even in a changing market environment.”