Net mortgage borrowing reached a record high of £17.9
billion in June, just before the lower stamp duty rates began to taper off from
July, according to the Bank of England. The previous record, in March 2021, was
£11.5 billion, and borrowing has averaged £5.4 billion in the 12 months to May
2021. The Bank says its figures suggest there has been a shortening of time
between a mortgage being approved and the lending itself, as there was no large
rise in the number of mortgage approvals in recent months, unlike ahead of the
strong net borrowing in March. Read more on the Financial Reporter website.
Leasehold reforms face more delay due to Tory flaws, minister says
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Matthew Pennycook says Labour must close loopholes in changes to rules in
England and Wales passed by Gove
Long-awaited reforms to the leasehold system i...
14 hours ago
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