Just Mortgages and Spicerhaart comment on the latest Bank of England Money and Credit statistics

29 October 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: "September’s increase in net mortgage approvals to 65,600 marks the highest level in two years, since August 2022, demonstrating clear signs of renewed vigour in the housing market. Alongside this, the rise in remortgage approvals to 30,800 shows that both buyers and existing homeowners are eager to engage with the market again. A potential interest rate cut in November would add further tailwinds to this positive momentum, making homeownership and refinancing more attractive.

"With the Budget announcement tomorrow, we hope the government fans these flames instead of throwing cold water over what is clearly a positive step forward. Now is the time for targeted support that sustains this upward trend, offering stability and opportunity to those looking to enter or remain in the housing market.”