The total monthly number of mortgage approvals for the purpose of a house sale in the UK plummeted in 2020 during the COVID-10 pandemic, followed by a spike in the second half of the year. In 2021, interest rates started to rise, resulting in a decline in the volume of mortgage approvals declined. In 2024, mortgage approvals for home purchases started to increase, while remortgage approvals continued to fluctuate. Being approved for a mortgage is one of the first steps in purchasing a home, which makes it an early indicator of the development of transaction volumes. However, a mortgage approval does not necessarily mean that a sale is going to take place, as home buyers need to undergo several other steps to complete the sale: conveyancing, or the process of transferring the legal title of the property from the seller to the buyer, a property survey, contracts exchange, and closing.

This data contains an unquantified element of refinancing of existing mortgages (e.g. involving the redemption of an existing mortgage and its replacement with a mortgage from a different lender). The most current data is published on these sheets. Previously published data may be subject to revision. Any change from the originally published data will be highlighted by a comment on the cell in question. These comments will be maintained for at least a year after the date of the value change.

Following the COVID-19 pandemic in 2020, the number of residential mortgage approvals in the UK plummeted. As the measures eased, the market rebounded, peaking at 157,000 mortgage approvals in November 2020. In 2022 and 2023, mortgage lending declined again as a response to the rising mortgage interest rates and the cooling of the housing market. In September 2024, the number of mortgage approvals exceeded 106,000 - up from about 70,500 in the same month a year ago. The increase indicated a rise in mortgage demand and an improvement in consumer sentiment.

Mortgage Approvals in Oman increased to 1711 units in February from 1705 units in January of 2025. This dataset provides - Oman Mortgage Approvals- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The number of monthly mortgage approvals for home purchase in the United Kingdom (UK) peaked at nearly 108,000 approvals in November 2020, after falling to record low levels at the beginning of the coronavirus pandemic in the second quarter of the year. The spike was due to the easing of the first lockdown and a rise in the demand for housing. In 2022, the housing market started to cool, resulting in a falling number of mortgage approvals. In August 2024, there were 65,647 mortgage approvals. Remortgaging approvals followed a similar trend.

Mortgage Approvals in Spain increased to 38058 Units in January from 32249 Units in December of 2024. This dataset provides - Spain Mortgage Approvals- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Mortgage Application in the United States decreased by 2 percent in the week ending March 21 of 2025 over the previous week. This dataset provides - United States MBA Mortgage Applications - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the last three years, the highest number of mortgage approvals by building societies in the UK took place in March 2021 at over 46,000. In March 2020, the number of mortgage approvals amounted to approximately 36,000. The highest value of building societies residential mortgage loans during that period was also recorded in March 2021. Building societies, unlike banks are not listed on the stock market and thus, don't have external shareholders. Instead, the "owners" and decision makers in building societies are mortgage borrowers, savers and current account holders. Building societies offer many traditional banking products and financial services such as mortgage lending, savings and current accounts.

Mortgage lending information comes from the Federal Financial Institutions Examination Council's (FFIEC) Home Mortgage Disclosure Act (HMDA) data. Loan originations are the creation of a loan after bank approval. Loan origination rates are calculated from the number of loan applications that were either approved or denied—what is termed as decisioned applications. For all charts, the loan’s purpose can be selected via a dropdown list. Trends are summarized by all loan purposes and by Loans for home purchase, home improvement, or refinancing.

The value of approvals issued for house purchase lending in the UK plummeted at the beginning of the COVID-19 pandemic, reaching a record-low of 1.9 billion British pounds in May 2020. In the second half of the year, the release of pent-up demand led to the value of approvals spiking at close to 22 billion British pounds in December 2020. With mortgage rates increasing in response to stubborn inflation, the value of mortgage approvals saw a substantial decrease in 2022 and an uptick in 2023. Remortgage approvals followed a similar trend.

This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Type of property (2 items: Residential property; Non-residential property ...).

Source: From lending institutions and local authorities This data contains an unquantified element of refinancing of existing mortgages (e.g. involving the redemption of an existing mortgage and its replacement with a mortgage from a different lender). The most current data is published on these sheets. Previously published data may be subject to revision. Any change from the originally published data will be highlighted by a comment on the cell in question. These comments will be maintained for at least a year after the date of the value change.

The value of mortgage approvals in the UK started to increase in the final quarter of 2023, reaching 22.7 billion British pounds in September 2024. In recent years, the market has undergone significant fluctuations, including a dramatic decline in May 2020 because of the COVID-19 pandemic and two notable drops in 2023, attributable to the aggressive mortgage interest rate hikes and worsening economic conditions.

Type of Mortgage Loan:Conventional Mortgage Loans: Backed by private investors and typically require a down payment of 20% or more.Jumbo Loans: Loans that exceed the conforming loan limits set by Fannie Mae and Freddie Mac.Government-insured Mortgage Loans: Backed by the Federal Housing Administration (FHA), Department of Veterans Affairs (VA), or U.S. Department of Agriculture (USDA).Others: Includes non-QM loans, reverse mortgages, and shared equity programs.Mortgage Loan Terms:30-year Mortgage: The most common term, offering low monthly payments but higher overall interest costs.20-year Mortgage: Offers a shorter repayment period and lower long-term interest costs.15-year Mortgage: The shortest term, providing lower interest rates and faster equity accumulation.Others: Includes adjustable-rate mortgages (ARMs) and balloons loans.Interest Rate:Fixed-rate Mortgage Loan: Offers a stable interest rate over the life of the loan.Adjustable-rate Mortgage Loan (ARM): Offers an initial interest rate that may vary after a certain period, potentially leading to higher or lower monthly payments.Provider:Primary Mortgage Lender: Originates and services mortgages directly to borrowers.Secondary Mortgage Lender: Purchases mortgages from originators and packages them into securities for sale to investors. Key drivers for this market are: Digital platforms and AI-driven credit assessments have simplified the application process, improving accessibility and borrower experience. Potential restraints include: Fluctuations in interest rates significantly impact borrowing costs, affecting loan demand and affordability. Notable trends are: The adoption of online portals and mobile apps is transforming the mortgage process with faster approvals and greater transparency.

Overall Loan Approvals by bank by year. Published by Department of Housing, Local Government, and Heritage. Available under the license Creative Commons Attribution Share-Alike 4.0 (CC-BY-SA-4.0).This data contains an unquantified element of refinancing of existing mortgages (e.g. involving the redemption of an existing mortgage and its replacement with a mortgage from a different lender).
The most current data is published on these sheets. Previously published data may be subject to revision. Any change from the originally published data will be highlighted by a comment on the cell in question. These comments will be maintained for at least a year after the date of the value change.
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This dataset provides values for MORTGAGE APPROVALS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

As a result of the coronavirus (COVID-19) pandemic, the number of residential mortgage approvals in the United Kingdom (UK) plummeted in the second quarter of 2020. With the easing of the measures, the market quickly headed for recovery. Nevertheless, the total number of mortgage approvals in 2020 remained below the five-year average.

Mortgage loan approvals for existing properties, new properties and new residential construction and existing residential properties.

This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Estimates (2 items: Dollars; Dwelling units ...), Type of mortgage loan approvals (3 items: Total; Conventional; National Housing Act ...), Type of lender (3 items: Total; Canada Mortgage and Housing Corporation; Approved lenders ...).

This dataset provides values for MORTGAGE APPROVALS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.