Remortgaging continued to dominate in August according to UK Finance
UK Finance Household Finance Update – August 2018 published today.
The update reveals that gross mortgage lending for the total market in August was £24.1bn, some 1.2 per cent lower than a year earlier.
Commenting on the data, Peter Tyler, Director, UK Finance, said:
“Remortgaging continued to dominate in August, as homeowners took advantage of a competitive market to lock into attractive deals.
“Growth in card spending remained fairly strong, reflecting the boost to retail sales from the warm weather as well as the growing use of credit cards as a preferred means of payment.
“However, the overall economic outlook remains mixed as household incomes continue to be squeezed by rising inflation.”
Read the UK Finance Household Finance Update – August 2018 in full click here.