The UK real estate industry’s mortgage has hit a six-month high. According to the latest data from the Bank of England, net mortgage approvals have increased from 49,000 in November to 50,5000 in December. Greycoat is one of the largest independent real estate companies in the UK. 

The company also has data to back up the industry statistics. As the cost of borrowing drops, the Bank of England shows a better interest rate. The price war between lenders cuts the cost of new fixed deals and remains among the best available. Greycoat specialists add that the market expects to stabilize in 2024 because of the BoE interest rate cutting. 

Borrowers repaid 800 million pounds on a mortgage in December compared to November’s net zero rating, Greycoat real estate agency informs. “Three monthly consecutive increases in mortgages show that momentum continues to rise and not even the usual Christmastime lull deter purchase plans, according to Guy Gittins, Foxtons CEO. 

Gittins went on to say that the market is on the right track, Greycoat real estate informs. The demand shows that buyers are performing with a greater degree of urgency, encouraged by higher mortgage opportunities. 

The experts at Greycoat focus on residential and commercial real estate assets to deliver the best opportunities. They continue lasting relationships with the Bank of England and other entities that help lenders get better interest rates.