The number of mortgage approvals for house purchases in the United Kingdom, which is an indicator of future borrowing, increased slightly to 63,770 in July of 2022 from a downwardly revised 63,184 in June, above market expectations of 61,725. This is below the 12-month pre-pandemic average up to February 2020 of 66,800. Approvals for remortgaging, which only capture remortgaging with a different lender, increased to 48,400 in July, from 43,300 in June. This also remains below the 12-month pre-pandemic average up to February 2020 of 49,500, however. source: Bank of England
Mortgage Approvals in the United Kingdom averaged 83.17 Thousand from 1986 until 2022, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 9.28 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 September of 2022.
Mortgage Approvals in the United Kingdom is expected to be 62.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Mortgage Approvals is projected to trend around 62.00 Thousand in 2023 and 68.00 Thousand in 2024, according to our econometric models.