“The increase in consumer borrowing highlights that some households may still be relying on credit to manage day-to-day expenses. With the full impact of higher remortgage payments now being felt by many, financial strain remains a key concern.
“June’s rise in mortgage approvals and remortgaging activity reflects growing borrower confidence amid increasing competition between lenders. Despite lingering cost-of-living pressures, more households are re-entering the market, either to secure better remortgage deals or take advantage of slightly improved affordability conditions.
“Lenders must remain attuned to the financial resilience of their customers, particularly as inflation remains above target and uncertainty around future rate decisions continues.”
-ENDS-
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Notes to Editors:
About KPMG
KPMG LLP, a UK limited liability partnership, operates across the UK with approximately 17,000 partners and staff. The UK firm recorded a revenue of £2.99 billion in the year ended 30 September 2024.
KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.