“Mortgage activity in November signals a cautious return of confidence to the housing market. Whilst the Autumn Budget provided little relief on affordability pressures, next month we may see that December’s rate cut injects a little more life into to the market to close out 2025.
The uptick in consumer borrowing will catch few by surprise as many households rely more heavily on credit to manage the elevated costs of Christmas.
The clear theme as we enter 2026 is one of fragility, we’ve continued economic uncertainty and cautious consumer spending. The regulator is putting a heavy emphasis on supporting customers. Lenders need to be very clear in their approach to customer focused rules like Consumer Duty, Fair Value and Targeted Support.”
