Mortgage approvals rise to ten-year high

Posted on Friday, August 30, 2019

Mortgage approvals for home purchase were 16.4% higher than in July 2018.

"Finally, some positive news for the housing market with mortgage approvals at the highest monthly level since July 2009."

There were 95,126 mortgages approved by the main high street banks in July, the highest monthly total since July 2009, according to the latest data from UK Finance.

Its figures show that mortgage approvals for home purchase were 16.4% higher, re-mortgage approvals were 19.4% higher and approvals for other secured borrowing were 12.7% higher than the same month last year.

Gross mortgage lending across the residential market was £26.1 billion in July, 2.9% higher than the same month in 2018 and the highest since March 2016.

 

Back to News Articles