Comment from Ryan Davies, Strategy Director, Bluestone Mortgages on today's Bank of England money and credit statistics

30 August 2024

Following today's Bank of England's money and credit statistics here, showing net mortgage approvals for house purchases increased to 62,000 in July, the highest since September 2022 (65,100), and up from 60,600 in June, please see below the comment from Ryan Davies, Strategy Director, Bluestone Mortgages. 

Ryan Davies, Strategy Director, Bluestone Mortgages, comments on today’s Bank of England Money and Credit statistics: “Today’s mortgage approvals suggest that consumer confidence remains buoyant. At a time when interest rates have finally fallen from their 16-year historic high and lenders are ramping up the competition to drop their rates, we expect to see demand continue into the latter half of this year.

“For those looking to take advantage of lower rates, or simply wanting advice on which product is best suited to their needs, seeking the support of a mortgage broker is a sensible first step. Taking out a mortgage is a large financial commitment, and it is the duty of these professionals to help customers navigate the complexities of the housing market and help make their homeownership dreams come true.”