UK mortgage lending to increase by lowest amount in a decade amid high rates and sluggish housing market

Lenders are struggling to attract business – and brokers say they may have to drop rates to do soMortgage loans are expected to rise just 1.5 per cent net in 2023 and two per cent net in 2024, which would represent the lowest growth over a two-year period in a decade, according to the EY ITEM Club Outlook for Financial Services.

But he added that the improvements were “small” and were not making a “significant” difference to affordability. Dan Cooper, UK head of banking and capital markets at EY, said: “The ‘higher for longer’ borrowing rates and ongoing cost-of-living pressures are continuing to have a very real impact on customers, and at the same time, banks are tightening their lending criteria.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Business leaders send ‘unequivocal message’ to Robison demanding rates freezeThirty-five business organisations united in a letter to the Deputy First Minister as she draws up the Scottish Budget for 2024-25.
Fuente: LBC - 🏆 17. / 74 Leer más »