In January, mortgage borrowing and housing transactions generally fell off a cliff given the sub-zero weather conditions and the end of the stamp duty holiday in December, so February’s slight uptick isn’t too much of a surprise.
Looking forward, we’re not expecting borrowing levels to accelerate significantly in the run-up to the General Election, and they may even fall back slightly post-Election.
Come the second half of the year we’ll know far more about how the mortgage and residential property markets are likely to fare in the short term.
Andrew Montlake, Communications Director at Coreco and ‘Mortgage Personality of the Year 2008’, gives his views — honest and no holds barred — on the latest developments within the mortgage and property markets.
