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

30 September 2024

Following today's Bank of England's money and credit statistics here, showing net mortgage approvals for house purchase rose from 62,500 in July to 64,900 in August, the highest level since August 2022, please see below the comment from Ryan Davies, Strategy Director, Bluestone

Ryan Davies, Strategy Director, Bluestone Mortgages, comments on today’s Bank of England Money and Credit statistics: “Today’s uptick in mortgage approvals indicates a road to recovery for the UK mortgage market. With interest rates having fallen from their historic high, and the mortgage rate war between lenders continuing to gather pace, the outlook remains bright.

“For those who are looking to take advantage of the lower rates or simply seeking advice on which product is most suitable for their situation, speaking to a mortgage broker is the next sensible step. While taking out a mortgage is a large financial commitment and can seem daunting without the right support; brokers can help customers navigate what can be a complicated market and help them reach their homeownership dreams.”