Mortgage borrowing settles after record month, BoE says
By
Gary Adams
3
rd June 2021
11:17 am
Net mortgage borrowing in April came to £3.3bn, show new figures from the Bank of England, down from the record £11.5bn seen in March.
This, the BoE says that “despite weaker net lending, both gross lending and repayments remain above levels seen since the start of 2020. The recent variability is likely to reflect the reduction in the stamp duty tax.”
Meanwhile, the number of mortgage approvals in April came to 86,900 at a value of £20.2bn, which compares to 83,400 at a value of £18.6bn in March.
The total number of remortgage approvals in April amounted to 33,100 at a value of £6.4bn, the BoE data adds, down slightly from the 34,500 seen in March at a value of £6.6bn.