The number of mortgages approved for house purchase in the United Kingdom rose to 66,766 in January 2019, the highest number since October, following an upwardly revised 64,468 in December and beating market expectations of 63,400. Additionally, approvals of loans secured on dwellings for remortgaging increased to 50,377 from an upwardly revised 48,481 in December and those for other purposes also went up to 15,382 from an upwardly revised 13,260 in the prior month. Mortgage lending rose by GBP 3.66 billion in January, below market consensus of a GBP 3.90 billion gain. Mortgage Approvals in the United Kingdom averaged 84.55 Thousand from 1986 until 2019, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 26.30 Thousand in November of 2008.
Mortgage Approvals in the United Kingdom is expected to be 66.50 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 79.10 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.