FTA Vantage Point: Interest Rates  

BoE ‘not looking at wider picture’, say brokers

Remortgages are predicted to offset a quieter first-time buyer market this year. 

In the meantime, Richard Pike - sales director at lending technology provider Phoebus Software, said banks should concentrate on arrears and collections.

“Although mortgage arrears fell at the end of 2021 the squeeze on finances is likely to be telling in the next few months,” he said.

“There will be some households that are already finding it hard and lenders should be looking forward and ensure they are communicating with their borrowers before situations get too bad.”