UK mortgage borrowing has hit a record high as buyers rush to beat the now-extended stamp duty holiday deadline.
The latest figures from the Bank of England showed that Rishi Sunak’s decision in the Budget to extend the current tax break until June helped maintain high demand for property.
Although the number of new mortgage approvals dropped from 87,000 to 83,000 in March, they remained higher than the 73,000 recorded pre-lockdown in February last year.
The completion of deals took net mortgage lending to £11.3bn in March – the highest monthly tally since the series began almost 30 years ago.
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Published
14/05/2021
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