Mortgage Borrowing decreasing in 2024

UK Finance has released its latest Household Finance Review for Q1 2024 with the reporting highlighting that mortgage borrowing has decreased when compared with the same period the year before, despite a rise in mortgage applications at the end of 2023.
Towards the end of last year as mortgage borrowing rates started to reduce, there was a noticeable uptick in the number of mortgage applications. This suggested the market might see a recovery in the first half of 2024 as the applications followe