Mortgage approvals rise as buyers respond to 'relative economic stability' - EUROPE SAYS
Secured gross lending rose marginally to £27. 4 billion, above the six-month average of £26 billion, while repayments fell to £21. 3 billion from £22. 7 billion. The effective rate on newly drawn mortgages. . .
Secured gross lending rose marginally to £27. 4 billion, above the six-month average of £26 billion, while repayments fell to £21. 3 billion from £22. 7 billion. The effective rate on newly drawn mortgages increased to 4. 35% in June from 4. 22% in May, while the rate on the outstanding stock of mortgages rose to 3. 96% from 3. 92%. Secured lending inc. house purchase, remortgaging and other advancesSeasonally adjusted (£ billions)Gross LendingNet Secured LendingRepaymentsSource: Bank of England Money and Credit Report, June 2025. Chart values are approximate. TheBank of England’s latest Money and Credit datawas echoed byMortgage Advice Bureau‘s internal figures, according to Rachel Geddes (pictured right), strategic lender relationship director at the mortgage specialist network. “Whatever the Bank decides tomorrow, it pays to know your options rather than wait and see – that’s true whether you’re buying or due to remortgage,” she said. “One month’s data is a snapshot, not the whole picture, which is why a mortgage adviser weighing up the market on your behalf matters more than any single number. ”For Nathan Emerson (pictured right), chief executive of industry body Propertymark, approvals rising suggested buyers had responded to a period of relative economic stability, but cautioned that headwinds remained. “Inflation isstill above the Bank of England’s 2% targetahead of this Thursday’s interest rate decision, while higher household costs, including increased energy prices from 1 July, continue to place pressure on household finances,” he said. Tags:Bank of Englandcentral bankCentral BanksCentral Banks of the European SystemDeutsche BundesbankECBEconomyESCBEuropeEuropeanEuropean Central BankEuropean Central Banksmortgage approvalsmortgage borrowingTHE BANK OF ENGLANDThe Bank of FranceThe Bank of Italy