Residential borrowing

The Bank of England Credit Conditions Survey has revealed a decrease in demand for house purchase lending in the last quarter of 2021. However, demand for re-mortgage borrowing has increased. Banks expect to increase the availability of lending for residential purchases in coming months. Vanessa Rhodes, prime residential partner at Kingsley Napley, said recent activity levels in the prime sector had been “incredibly strong”. “Those buyers who have been waiting on the side-lines for the right time to act… are likely to see the coming months as ideal to transact", she added.