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UK mortgage approvals fall to lowest since January 2024, Bank of England data shows
- British lenders approved 56,053 mortgages for house purchase in July, the lowest level since January 2024, according to Bank of England data released on Tuesday.
- Geopolitical tensions and elevated energy prices pushed mortgage rates higher during the summer, weighing on housing market demand, according to Hina Bhudia, a partner at Knight Frank Finance.
- Meanwhile, net borrowing of consumer credit increased to £2.0 billion in July, representing the biggest rise in unsecured lending since November 2025.
- Remortgaging numbers picked up slightly as borrowers shopped for better rates, while Nationwide Building Society reported average UK house prices rose 1.6% annually in August.
- Ruth Gregory, deputy chief UK economist at Capital Economics, said the near-term outlook for the housing market remains weak, with little expected improvement for the remainder of the year.
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The Independent
The IndependentHome-buyer mortgage approvals fall to lowest level in more than two years
Some 56,053 mortgages were approved for house purchase in July, marking the lowest figure since January 2024, according to a Bank of England report.
·London, United Kingdom
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UK mortgage approvals lower than forecast in July - Bank of England
UK mortgage approvals were lower than expected in July, numbers on Tuesday showed. According to the Bank of England, mortgage approvals fell to 56,100 in July from 58,200 in June, below the... -September 01, 2026 at 04:46 am EDT MarketScreener
·Annecy, France
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UK mortgage approvals fall to lowest since January 2024, Bank of England data shows
British lenders approved the fewest mortgages for house purchase since January 2024 in July and consumer lending grew more than expected, according to Bank of England data on Tuesday.
·London, United Kingdom
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Coverage Details
Total News Sources6
Leaning Left1Leaning Right0Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
L 20%
C 80%
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