Mortgage Advice Bureau 1Q Completions Rose 11%; Performance in Line With Board Views
25 Mai 2022 - 9:43AM
Dow Jones News
By Anthony O. Goriainoff
Mortgage Advice Bureau (Holdings) PLC said Wednesday that
completions for the first quarter rose 11%, and that its current
performance is in line with the board's expectations.
The U.K. property-letting company said that completions in the
period were 5.8 billion pounds ($7.27 billion), and that this was
driven in no small part by stamp-duty relief.
The company said that increases in interest rates have
stimulated more refinancing activity, and that mortgage borrowers
are more motivated than ever to secure the best rate possible.
It said that although interest rates have risen, and are likely
to continue rising over the next 12 months, current rates remain
near historical lows.
"Despite the geopolitical uncertainty and the rising cost of
living for U.K. households, those that want or need to move home
continue to do so. Consumer demand for housing remains high and
activity is strong," the company said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
May 25, 2022 03:28 ET (07:28 GMT)
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