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UK Finance comment - Just Mortgages

John Phillips, national operations director at Just Mortgages said: “In an unprecedented year, Q2 2021 will go down as perhaps the most extraordinary few months we’ve seen in a long time.

“The massive rush is not the result of borrowers over-extending themselves however. Although loan-to-income ratios for purchases increased over Q2, borrowers are still in a strong position. Thanks to extended mortgage terms, and low interest rates from lenders, borrowers are paying record low monthly payments.

“Brokers should take some credit for this. By providing expert advice, they are ensuring their clients are not overstretching themselves, even with rapidly increasing house prices.”

Published: 02 September 2021