British banks approved 40,634 mortgages for new house purchase in January 2019, the most since September 2017, data from trade association UK Finance showed. January's figures were up from a revised 39,350 in the previous month and compared to market expectations of 38,500. In addition, consumer credit grew by 4.6 percent year-on-year, the most since February 2018. Mortgage Applications in the United Kingdom averaged 50988.61 Units from 1997 until 2019, reaching an all time high of 93589 Units in March of 2002 and a record low of 17157 Units in November of 2008.
Mortgage Applications in the United Kingdom is expected to be 44900.00 Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Mortgage Applications in the United Kingdom to stand at 49200.00 in 12 months time. In the long-term, the United Kingdom UK Finance Mortgage Approvals is projected to trend around 54400.00 Units in 2020, according to our econometric models.