The number of mortgages approved for house purchases in the United Kingdom jumped to 91.5 thousand in September 2020, easily beating forecasts of 76.1 thousand, as the housing market continued to show signs of recovery. This was the highest number of approvals since September 2007, and was 24 percent higher than approvals in February 2020. Approvals for remortgage, which capture remortgaging with a different lender, were slightly down at 32.7 thousand, remaining 38 percent lower than in February. Approvals for other purposes rose to 11.9 thousand in September from 11.3 thousand in August. source: Bank of England
Mortgage Approvals in the United Kingdom averaged 83.42 Thousand from 1986 until 2020, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 9.34 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 October of 2020.
Mortgage Approvals in the United Kingdom is expected to be 48.00 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 62.00 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.