Sector Focus 

Estate agents: The storm clouds are gathering

Estate agents: The storm clouds are gathering

Total homeowner house purchases in February reached 50,000 – the highest level for the month of February prior to the financial crash. This was split fairly evenly between first-time buyers and existing home movers. Mortgages of roughly £18bn were secured but nearly half of these were remortgages as existing borrowers locked into low rates ahead of the perceived likelihood of an increase in interest rates later this year.

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