The number of mortgages approved for house purchase in the United Kingdom plummeted to just 9,273 in May 2020, the lowest level since the series began in 1993 and well below market expectations of 25,000. This was, almost 90 percent below the February level and around a third of their trough during the financial crisis in 2008, due to weakness in the housing market associated with COVID-19. Also, approvals of loans secured on dwellings for remortgaging fell to 30,368 from 34,121 in April and those for other purposes dropped to 5,920 from 6,250.

Mortgage Approvals in the United Kingdom averaged 83.55 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 July of 2020. source: Bank of England

Mortgage Approvals in the United Kingdom is expected to be 39.10 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 52.50 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.

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United Kingdom Mortgage Approvals

Actual Previous Highest Lowest Dates Unit Frequency
9.27 15.85 151.80 9.27 1986 - 2020 Thousand Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-03-30 08:30 AM Feb 73.55K 70.89K 68.206K 67.5K
2020-05-01 08:30 AM Mar 56.2K 73.67K 60K 62K
2020-06-02 08:30 AM Apr 15.8K 56.136K 23.776K 20K
2020-06-29 08:30 AM May 9.3K 15.85K 25K 26.4K
2020-07-29 08:30 AM Jun 9.3K 19.1K
2020-09-01 08:30 AM Jul
2020-09-29 08:30 AM Aug
2020-10-29 09:30 AM Sep 42.5K


News Stream
UK Mortgage Approvals Slump to Fresh Record Low
The number of mortgages approved for house purchase in the United Kingdom plummeted to just 9,273 in May 2020, the lowest level since the series began in 1993 and well below market expectations of 25,000. This was, almost 90 percent below the February level and around a third of their trough during the financial crisis in 2008, due to weakness in the housing market associated with COVID-19. Also, approvals of loans secured on dwellings for remortgaging fell to 30,368 from 34,121 in April and those for other purposes dropped to 5,920 from 6,250.
2020-06-29
UK Mortgage Approvals Tumble to Record Low
The number of mortgages approved for house purchase in the United Kingdom plunged to 15,848 in April 2020, the lowest level since the series began in 1993 and below market expectations of 23,776. Mortgage market activity was under pressure in April due to weakness in the housing market associated with COVID-19. Also, approvals of loans secured on dwellings for remortgaging fell to 34,357 from 42,134 in March and those for other purposes dropped to 6,308 from 11,983.
2020-06-02
UK Mortgage Approvals Fall to 7-Year Low
The number of mortgages approved for house purchase in the United Kingdom decreased to 56,161 in March 2020, the lowest since March 2013, from an upwardly revised 73,674 in the previous month and below market expectations of 60,000. Also, approvals of loans secured on dwellings for remortgaging fell to 42,551 from 53,061 in February and those for other purposes dropped to 11,981 from 14,418.
2020-05-01
UK Mortgage Approvals Hit 6-Year High in February
The number of mortgages approved for house purchase in the United Kingdom increased to 73,546 in February 2020, the highest since January 2014, following an upwardly revised 71,344 in the previous month and above market expectations of 68,206. Also, approvals of loans secured on dwellings for remortgaging rose to 53,383 from 52,073 in January and those for other purposes increased to 14,638 from 14,290.
2020-03-30

United Kingdom Mortgage Approvals
Mortgage approvals for house purchase refers to the firm offers of lenders to advance credit secured on specific dwellings to their customers. It covers approvals that are fully secured on residential property by a first mortgage. It includes existing borrowers transferring their existing mortgage to another property, lending to first-time purchasers and lending for buy-to-let purposes.