British lenders expect the biggest fall in demand for mortgages since mid-2020 during the three months to the end of August.
The Bank of England’s quarterly Credit Conditions Survey showed the net balance of expectations among lenders for mortgage demand sank to -41.9.
Expectations were last lower in the second quarter of 2021 and the last time there was weaker actual demand was in the second quarter of 2020.
The lenders also expected more mortgage defaults though their past forecasts for this have typically not materialized.
Source: Reuters