Mortgage approvals to home buyers edged up in December – Bank of England figures

Sign up to our free money newsletter for investment analysis and expert advice to help you build wealth Sign up to our free money email for help building your wealth Sign up to our free money email for help building your wealth SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It has been an upbeat start to the year overall.” We do expect lenders to cut mortgage rates as soon as they are able to do so Hina Bhudia, Knight Frank Finance Property website Zoopla said on Thursday that house sales and property listings were higher at the start of this year than in early 2024, with 2025 being the strongest start to the housing market in three years. “They have fresh lending targets at the beginning of the year and are eager to build market share.” Jason Tebb, president of OnTheMarket, said: “While affordability remains an issue for many buyers, there is encouraging talk of further base rate reductions this year.” Looking at non-mortgage borrowing, the Bank’s Money and Credit report showed that annual growth for consumer credit decreased slightly to 6.5% in December, from 6.6% in November. Easing inflation and robust wage growth may be improving disposable incomes for some, but not everyone is managing to balance their household finances effectively Alice Haine, Bestinvest by Evelyn Partners Households’ deposits with banks and building societies increased by £4.5 billion in December, following net deposits of £1.2 billion in November. “Some households will not have had a positive financial start to 2025 and with conditions set to remain challenging, lenders will need to be ready to provide the necessary support, particularly in debt and budget management.” Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners, the online investment platform, said: “When consumer confidence is low, people can feel uncomfortable taking on extra credit.