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Hope Capital comment on the Bank of England stats

Jonathan Sealey, CEO at specialist lender Hope Capital, said: “The publication of today’s Bank of England statistics show there were 67,000 mortgage approvals in November 2021, which was significantly lower than what was reported around a year ago.

However, this was of course to be expected, when last year there was a stampede of borrowers looking to meet the original stamp duty holiday deadline at the end of March.

As we enter the new year, it is to be expected that there will be an increase in activity, as many investors look to take advantage of the low interest rates currently available. Therefore, the need for bridging lenders to provide fast and flexible solutions will be paramount in 2022.

Published: 04 January 2022