Our Chief Commercial Officer, Paul Stockwell, comments on The Bank of England's credit and money data

“The number of mortgage approvals in May is roughly a third of what they were during the worst of the financial crisis, which really puts the pandemic’s impact on the economy into perspective.

“The property portals are reporting strong demand since the market re-opened in mid-May. However, time will tell whether the pent up demand will come to fruition.

“June will be the first full month of property transactions since the UK went into lockdown and it will be these figures that will be hotly watched as a measure of how determined buyers and vendors who returned to the market have been.”