The number of mortgage approvals for house purchases in the UK increased to 105 thousand in November 2020, the highest level since August 2007 and well above market expectations of 82.5 thousand. The recent strength in approvals has almost fully offset the significant weakness earlier in the year. Approvals for a remortgage, which capture remortgaging with a different lender, rose slightly to 35.1 thousand, but remained around 33 lower lower than in February 2020. Approvals for other purposes declined to 12.3 thousand in November from 12.4 thousand in October. In the January to November period, there were 715.3 thousand house purchase approvals, close to the number during the same period in 2019 (722 thousand). source: Bank of England
Mortgage Approvals in the United Kingdom averaged 83.51 Thousand from 1986 until 2020, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 9.36 Thousand in May of 2020. This page provides the latest reported value for - United Kingdom Mortgage Approvals - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United Kingdom Mortgage Approvals - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
Mortgage Approvals in the United Kingdom is expected to be 95.00 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 66.00 in 12 months time. In the long-term, the United Kingdom Mortgage Approvals is projected to trend around 78.00 Thousand in 2022, according to our econometric models.