"Beyond March, the mortgage market is likely to click back into its default mode of flat"
- William Hunter of Hunter Wealth Management
The number of approved mortgages rose to 38.1 thousand in January, the highest in two years, from 36.6 thousand in December, shows the data published by the British Banker's Association on Thursday.
"January saw the high street banks approve more mortgages for house purchase than of late, despite low household confidence, as some people try to complete transactions before the stamp duty holiday ends in March," BBA statistics director David Dooks said.
"Demand for unsecured personal borrowing remains low as consumers continue to repay debt."
"Beyond March, the mortgage market is likely to click back into its default mode of flat. Welcome though this boost is, by definition it is finite," said William Hunter of Hunter Wealth Management.
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