
The report also stated that In the residential mortgage market, both lender and broker contacts reported that competition remained intense, driven by new market entrants and low funding costs. However, this competition was mainly concentrated on customers with the cleanest credit history. More customers were taking out fixed-rate deals; mortgages with longer terms, in many cases over 30 years, were becoming more popular.
Read the full Bank of England 2017 Q3 agents summary of business conditions here