Survey shows gap between demand and approvals

The government\'s rescue plan may help at the margins but the big problems will occur next year when the fixed rate mortgages taken out in the first half of last year come to an end.

A survey undertaken for my firm by GfK NOP on saving, investment and borrowing behaviour among 2,000 adults showed weak mortgage demand in that period, yet approvals were at near record levels. In previous quarters, demand and approvals tracked each other well. Something’s amiss here. Who took out these mortgages?

John Gilbert

Chief executive
By email