The number of mortgage products available is now over 23,000 - a
figure last seen during the heady days just before the housing
market slowdown in 2008.
The total number of products available, after a rise for the
eighteenth consecutive month, now stands at 23,478.
The figure is just one of a series released today by the Mortgage
Advice Bureau which seems to suggest at least this side of the
industry is not showing any sign of Brexit downturn.
More than 90 per cent of borrowers are fixing their mortgages,
presumably in anticipation of future rises despite the recent base
rate drop to 0.25 per cent.
MAB reiterates that necdotal evidence would indicate that the
lending market remains buoyant, with consumers continuing to
benefit from rates which remain close to all-time lows.
Whilst the total number of mortgage applications slightly decreased
0.38 per cent in July compared with June, remortgage applications
rose 4.24 per cent month on month and 29.8 per cent year on
year.
“Although many had expected activity in the market to pause or drop
significantly in July due to the referendum result in June, overall
the data would suggest that, whilst there has been a slight cooling
in purchase activity it’s been ‘business as usual’, with an
increase in demand for remortgages” according to Mortgage Advice
Bureau’s head of lending, Brian Murphy.
The MAB data comes from over 850 advisers and 900 estate agents
across the UK.
For all your Financial requirements speak to Brendan Brown
Independent Financial Adviser for whole of market advice.
T. 07764 942896 E. brendan@brownfinancialservices.co.uk to
arrange an appointment at one of our Offices.
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