Sam Harhat on recent UK Finance update

Speaking with regards to the latest UK Finance Household Finance Update, Sam Harhat said:

“That the number of approvals for home purchase by high street banks in 2019 was up on the previous year underlines how resilient people were in what was an extraordinary 12 months of politics.

“Now that the scores are on the doors for December and 2019 as a whole, it’s clear that many people refused to let politics put their lives on hold.

“Yes, transaction levels and overall lending volumes in 2019 were still low by historical standards, but in the circumstances they held up exceptionally well. 

"We're expecting mortgage approvals to gain momentum during the first half of the year, as a lot of the pent-up demand out there hits the market.

"The return of aspirational buyers, who are feeling more confident in the new climate of political certainty, could really help lift transaction levels in 2020.

“There weren’t fireworks in 2019, but neither was the market flat, and that’s a victory in itself.”