Reino Unido Mortgage Approvals

Net mortgage approvals for house purchases in the UK rose to 65,352 in July 2025, up from an upwardly revised 64,571 in June and well above market expectations of 64,400. This marked the highest level since January, indicating that the housing market continued its recovery following the expiration of a homebuyer tax break in April and amid falling interest rates. Meanwhile, remortgage approvals, which track borrowers switching lenders, fell by 2,700 to 38,900 in July. The ‘effective’ interest rate on newly drawn mortgages declined for a fifth consecutive month, dropping to 4.28% from 4.34% in June, while the rate on the outstanding stock of mortgages remained steady at 3.88%.