The number of mortgages approved for house purchase in the United Kingdom fell to 62,341 in March of 2019 from an upwardly revised 65,340 in the previous month and well below market expectations of 64,850. Meanwhile, approvals of loans secured on dwellings for remortgaging increased to 49,713 from 49,289 in February and those for other purposes went up to 14,531 from 14,444. Mortgage lending rose by GBP 4.12 billion in March, above market expectations of a GBP 3.544 billion gain. Mortgage Approvals in the United Kingdom averaged 84.44 Thousand from 1986 until 2019, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 26.33 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.