The mortgage market softened slightly in September according to UK Finance
The latest UK Finance’s Household Finance Update for September 2018 reveals that gross mortgage lending across the residential market in September was £21.5bn, some 1.2 per cent lower than last September.
Commenting on the data, Eric Leenders, Managing Director of Personal Finance, UK Finance, said:
“The mortgage market softened slightly in September, following strong remortgaging activity in the months preceding the recent base rate rise.
“There has been modest year-on-year growth in card spending. However, borrowing through personal loans and overdrafts has contracted slightly in recent months, suggesting demand for unsecured household finance is becoming more subdued.
“Consumers are increasingly choosing to keep cash close to hand, with deposits held in instant access accounts showing steady growth.”
Read the latest UK Finance Household Finance update – September 2018 in full click here.