The number of mortgages approved for house purchase in the United Kingdom fell to 64,337 in February 2019 from a downwardly revised 66,696 in the previous month and below market expectations of 65,000. Also, approvals of loans secured on dwellings for remortgaging decreased to 47,673 from 50,132 in January and those for other purposes also declined to 13,956 from 15,042. Mortgage lending rose by GBP 3.457 billion in February, below market consensus of a GBP 3.7 billion gain. Mortgage Approvals in the United Kingdom averaged 84.49 Thousand from 1986 until 2019, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 26.38 Thousand in November of 2008.
Mortgage Approvals in the United Kingdom is expected to be 66.50 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 79.10 in 12 months time. In the long-term, the United Kingdom Mortgage Approvals is projected to trend around 97.60 Thousand in 2020, according to our econometric models.