After a mid-year slump in demand, the Bank of England has reported some recovery in the UK home mortgage market in October. Public expectation seems to be that interest rates will rise, so a desire to secure low interest deals is one factor driving current mortgages and remortgages. Uncertainties surrounding Brexit negotiations may also have led to families seeking security in fixed payment deals.

Key Takeaways:

• Bank of England suggests that the home mortgage market is recovering with approved loans for properties up 6% in October compared to the previous month.
• ‘However, mortgage activity has recovered and is now at similar levels to those seen through much of 2015′
• ‘The remortgage market has enjoyed a revival since September’s post Brexit low’.

“However, mortgage activity has recovered and is now at similar levels to those seen through much of 2015”

https://www.propertywire.com/news/europe/lending-figures-show-recovery-uk-home-lending/