The number of mortgages approved for house purchase in the United Kingdom jumped to 40.0 thousand in June 2020, recovering from an all-time low of 9.3 thousand in the previous month and easily beating market expectations of 33.9 thousand. It was still 46 percent below February’s pre-Covid level of 73.7 thousand. Approvals for remortgage, which capture remortgaging with a different lender, have also increased, to 36.9 thousand from 30.7 thousand; but they remained 30 percent lower than in February. Approvals for other purposes climbed to 8.5 thousand in June from 5.9 thousand in May.
Mortgage Approvals in the United Kingdom averaged 83.44 Thousand from 1986 until 2020, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 9.27 Thousand in May of 2020. This page provides the latest reported value for - United Kingdom Mortgage Approvals - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Mortgage Approvals - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Bank of England
Mortgage Approvals in the United Kingdom is expected to be 42.50 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Mortgage Approvals in the United Kingdom to stand at 58.00 in 12 months time. In the long-term, the United Kingdom Mortgage Approvals is projected to trend around 66.00 Thousand in 2021 and 78.00 Thousand in 2022, according to our econometric models.