Mortgage activity drops in January
Original Article Summary
Mortgage approvals dropped to 60,000 in January, below an average of around 64,100 over the previous 6-months, the Bank of England Money & Credit data for January has found. Approvals for remortgaging decreased slightly to 38,100 in January from 38,400 in December. Tomer Aboody, director of specialist lender MT Finance, says: “As net mortgage approvals reduce […] The post Mortgage activity drops in January appeared first on PropertyWire.
PropMatch Curated Analysis
Mortgage approvals fell to 60,000 in January, below the 6-month average, with experts citing ongoing Budget uncertainty and suggesting government intervention may be needed to stimulate activity.
Investor Relevance
Signals tightening mortgage availability affecting acquisition financing, refinancing opportunities, and overall market liquidity. Lower approval volumes indicate reduced competition but also fewer exit opportunities.
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