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Mortgage Lending Hits Record In December

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But don't get too excited bulls..... because "Remortgages on fixed and discounted deals boosted the numbers"


So it seems that mortgage lending is going through the roof so to speak..... but people aren't buying houses with it (volumes are at a30 year low)... and judging by the state of the retail sector they're not buying stuff with it either.

So where on earth is a 25% increase in secured borrowing going too?

IMO what is happening is a combination of remortgaging to cheaper deals as fixed rates expire for about 2.5m households and at the same time houses are being used as a lender of last resort for households on the brink of the financial abyss.

Lets face it if you're going to loose the house anyway you might as well remortgage to keep the wolf from the door and hope for a rate cut.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
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      • Even
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      • up 5%

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