The number of mortgages approved for house in the United Kingdom increase to 66,261 in April of 2019 from an upwardly revised 62,559 in the previous month and above market expectations of 63,250. Meanwhile, approvals of loans secured on dwellings for remortgaging decreased to 49,401 from 49,615 in March and those for other purposes went down to 14,340 from 14,507. Mortgage lending rose by GBP 4.29 billion in April, above market expectations of a GBP 3.80 billion gain. Mortgage Approvals in the United Kingdom averaged 84.40 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 70.20 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 80.60 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.