The number of mortgages approved for house in the United Kingdom increased to 66,440 in June 2019 from an upwardly revised 65,647 in the previous month and above market expectations of 65,750. Meanwhile, approvals of loans secured on dwellings for remortgaging rose to 46,976 from 46,816 in May while those for other purposes dropped to 14,717 from 14,740. Mortgage lending rose by GBP 3.73 billion in June, beating market expectations of a GBP 3.40 billion gain. Mortgage Approvals in the United Kingdom averaged 84.31 Thousand from 1986 until 2019, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 26.35 Thousand in November of 2008.
Mortgage Approvals in the United Kingdom is expected to be 65.40 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 74.50 in 12 months time. In the long-term, the United Kingdom Mortgage Approvals is projected to trend around 80.00 Thousand in 2020, according to our econometric models.