The scores on the doors from January’s economic indicators are a tantalising aperitif to what’s to come in the UK in future months. January was a mixed bag of positives and negatives and DevDosh Ltd has a slightly closer look at the key economic indicators representing consumer and property.
Net mortgage borrowing by UK households was down to £4.01B in January from £4.4B in December. Although a touch down when viewed historically the figure is still hovering around the £4B trend line that has been predominant since late 2016. This show that household borrowing rates remain consistent and account for post Christmas drop in mortgages awarded. After all, who moves in January our of choice?
Consumer Credit
Credit card borrowing increased by 0.3% from December to January and other consumer loans went up 0.6% in the same period. Overall UK consumers borrowed £1.23B in January. That’s a bit less than December which is understandable as Santa doesn’t have to be funded in January.
Mortgage Approvals
Mortgages approvals were up to 2016 levels in January. Over 70,000 mortgages were approved. This figure smashed market expectations by 3,000 mortgage approvals. Also in January remortgages rose by to over 2,000 since December to £52,000+.
One of the perfect things about the DevDosh Ltd fixed income investment product is that it is not severely effected by many of the economic indicators like the ones set out above. Because it is a debt investment secured on a 1st charge real estate development mortgage basis the value underlining the debt is not correlated to volatile markets and therefore is a stronger and safer fixed income investment. If you are looking for the safest 10% yield in today’s investment landscape, contact us today.