Rush for Cheaper Home Loans Spurs U.K. Housing Debt Binge
- Real-estate firms raise cash before interest costs climb more
- Housing demand remains strong despite Bank of England hikes
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A clamor for cheaper home loans in the face of rising interest payments is shaking the U.K. housing debt market from consumers to real-estate companies.
High-grade companies including property manager Places For People Group Ltd and social-housing provider London & Quadrant sold 1.1 billion pounds ($1.48 billion) of bonds so far this year, the busiest ever start for the sector, according to data compiled by Bloomberg. Meanwhile, sales of debt pooling residential loans rose to 2.72 billion pounds, the highest January tally since at least 2020.