Response to the Bank of England's statistics for March 2015
Fri 01 May 2015
Peter Rollings, CEO of Marsh & Parsons, comments: After a slightly dormant few months, mortgage approvals were more upbeat in March, ready for the next, more animated phase in the housing market cycle. Theres still a way to go before energy levels match a year ago, but 2015 has had a General Election to contend with.
With demand being powered on numerous cylinders better mortgage rates, lower stamp duty, Help to Buy schemes the path is clear for lending to accelerate throughout this year. Whatever the ballot boxes say next week, buyer confidence will emerge victorious, as we become surer of the next governments intentions for the property market.
Bank of England Money & Credit March 2015
The number of loan approvals for house purchase was 61,341 in March, compared to the average of 60,303 over the previous six months. The number of approvals for re-mortgaging was 32,591, compared to the average of 31,726 over the previous six months. The number of approvals for other purposes was 9,369, compared to the average of 9,298 over the previous six months.