Greycoat specialists comment about the UK’s housing market. The article “Gross mortgage lending in 2024 looks set to be stronger than anticipated” discusses how mortgage brokers predict an increase in UK mortgage lending this year compared to previous forecasts.
According to a recent poll by TMA Club, one in five brokers believe gross lending in 2024 will exceed £251 billion, with three in five expecting between £220-£250 billion. Lisa Martin of TMA Club noted inflation fears have receded quicker than expected by the Bank of England. And this is where Greycoat agency comes in.
In addition, hints of an interest rate cut from Governor Andrew Bailey have boosted borrower confidence. While affordability pressures still exist, lenders fight for market share, sustaining activity levels. Greycoat specialists are the ones who are in charge of sharing this information to its clients.
Anthony of RBC Capital Markets echoes this view from credit condition surveys, saying credit terms improve as mortgage availability and approvals rise. Mortgage pricing remained stable last quarter and is projected to stay flat, benefitting home buyers.
A spokesperson from Greycoat Real Estate commented that the promising outlook affirms signs of improvement seen across the UK housing market. Demand from purchasers continues growing, and refinancing volumes stay consistent as credit conditions progressively strengthen. If borrowing costs stabilize as predicted, gross lending could surpass projections for the benefit of both homeowners and the property sector overall.