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Mortgage approvals tick up in July: Bank of England


Mortgage and remortgage approvals showed good growth in July after three flat months, according to the latest figures from the Bank of England.

The Bank says there were 68,689 house purchase approvals in July, up from 65,318 in June. The figure for May was 65,574 and April 65,140.

The value of the July approvals was £12.4bn, up from £11.9m in June, £11.7m in May and £11.8m in April.

Remortgaging in July accounted for 46,231 transactions and £8.1m by value.

The June figures are 44,838 and £7.9bn. May’s statistics are 44.838 and £7.9bn.

All the figures are seasonally adjusted.

OneSavings Bank sales and marketing director John Eastgate says: “Mortgage approvals have recovered from last month’s lows despite persistent economic uncertainty. This is impressive given the combination of inflation and low wage growth, although the low levels of purchase activity should be seen as an indicator of still fragile consumer confidence.”

LMS chief executive Andy Knee says: “Remortgage approvals soared to their highest level this year as competitive deals offered by lenders enticed homeowners to make the switch. Remortgage approvals are also significantly higher than a year ago – the result of months of rock bottom mortgage rates – which have enabled homeowners to save more on their monthly repayments.”


Mortgage approvals up 1.4% in June: e.surv

Slight growth was experienced in the mortgage market in June, according to figures from e.surv, with the total number of loans approved in the month up by 1.4 per cent on the same month last year. Figures released in the Mortgage Monitor from the chartered surveyors firm found that there were 65,887 loans approved in […]


High street mortgage approvals edge down in June

Mortgage approvals by high street banks dipped slightly in June, according to the latest figures from UK Finance. The trade body, which incorporates the former Council of Mortgage Lenders, says there were 40,200 approvals in June, down from a six-month average of 41,872. Remortgaging approvals of 25,361 were down on the monthly average of 26,127 […]


May mortgage approvals static as remortgaging rises: BoE

Mortgage approvals for house purchase edged up 0.2 per cent month-on-month to 65,202 in May, according to the latest figures from the Bank of England. The figure for last May was 66,477. Anderson Harris director Jonathan Harris says: “Approvals for house purchase are broadly stable although remortgaging continues to rise as borrowers take advantage of […]

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Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.


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