Paul McGerrigan, Loan.co.uk’s CEO comments on – the Mortgage Lender’s and Administrators’ Statistics for Q3 2021
“The frenzied activity in the market seen in previous quarters of 2021, and the end of 2020, has dropped abruptly after hitting the proverbial wall of the final stamp duty holiday at the end of September, with the value of gross mortgage advances in quarter three coming in £15.6bn lower than over the summer, and new mortgage commitments at 8.2 percent less.
“However, statistics indicate demand is still there as homebuyers compete for space in a market woefully short of supply, driving prices ever higher.
“The combination of overheated prices against a backdrop of financial uncertainty caused by expectations of imminent interest rate rises and a fuel crisis is likely to see the market stabilise, and price growth level off early in the New Year.”
Loan.co.uk is a national, online credit broking business.
Established in 2014, the company has been working with the most advanced technology to build intelligent systems which will change the lending market, using a highly advance artificial intelligence platform combined with experienced human brokers to streamline the application process and improve the customer experience considerably. The business stands for transparency, fairness and excellent customer service.
Loan.co.uk Limited is authorised and regulated by the Financial Conduct Authority.
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