British banks approved 42,653 mortgages for new house purchase in June 2019, up from 42,407 in the previous month and close to April's two-year high of 42,792, revised data from trade association UK Finance showed. June's figures compared to market expectations of 42,900. Approvals of loans secured on dwellings for remortgaging increased to 28,806 from 28,748 in May while those for other purposes fell to 8,923 from 9,111. Net mortgage lending picked up to GBP 1.579 billion in June from GBP 1.374 billion in the previous month, while net credit card lending eased to GBP 0.119 billion from GBP 0.247 billion. Mortgage Applications in the United Kingdom averaged 50802.11 Units from 1997 until 2019, reaching an all time high of 92238 Units in March of 2002 and a record low of 17579 Units in November of 2008.
Mortgage Applications in the United Kingdom is expected to be 44900.00 Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Mortgage Applications in the United Kingdom to stand at 50200.00 in 12 months time. In the long-term, the United Kingdom UK Finance Mortgage Approvals is projected to trend around 54400.00 Units in 2020, according to our econometric models.