The number of mortgages approved for house purchase in the United Kingdom increased to 64,994 in November 2019 from an upwardly revised 64,662 in the previous month and above market expectations of 64,450. Meanwhile, approvals of loans secured on dwellings for remortgaging went down to 48,425 from 50,983 in October and those for other purposes dropped to 13,530 from 14,301. Net mortgage lending rose by GBP 4.052 billion in November, beating market consensus of a GBP 3.90 billion gain. Mortgage Approvals in the United Kingdom averaged 84.08 Thousand from 1986 until 2019, reaching an all time high of 151.80 Thousand in May of 1988 and a record low of 26.36 Thousand in November of 2008. source: Bank of England
Mortgage Approvals in the United Kingdom is expected to be 67.00 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 75.00 in 12 months time. In the long-term, the United Kingdom Mortgage Approvals is projected to trend around 80.00 Thousand in 2020, according to our econometric models.