Mortgage Approvals in the United Kingdom increased to 63.03 Thousand in May from 60.66 Thousand in April of 2025. This dataset provides the latest reported value for - United Kingdom Mortgage Approvals - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The total monthly number of mortgage approvals for the purpose of a house sale in the UK plummeted in 2020 during the COVID-19 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. In May 2025, mortgage approvals for home purchases totaled ******, while remortgage approvals stood at ******* 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, contract exchange, and closing.

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 ******* 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 May 2025, the number of mortgage approvals exceeded *******—up from about ****** in the same month a year ago. The increase indicated a rise in mortgage demand and an improvement in consumer sentiment.

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 September 2024, there were 65,647 mortgage approvals. Remortgaging approvals followed a similar trend.

United Kingdom Mortgage Loans Approved: Cases data was reported at 146,082.000 Unit in Oct 2018. This records an increase from the previous number of 125,182.000 Unit for Sep 2018. United Kingdom Mortgage Loans Approved: Cases data is updated monthly, averaging 139,463.000 Unit from Oct 1997 (Median) to Oct 2018, with 253 observations. The data reached an all-time high of 400,556.000 Unit in Oct 2003 and a record low of 68,691.000 Unit in Jan 2010. United Kingdom Mortgage Loans Approved: Cases data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB022: Mortgage Loans: Approved.

UK Mortgage Approvals Data from the Bank of England

Monthly Data

Contains both the seasonally adjusted and non-seasonally adjusted series.

1. Monthly number of total sterling approvals for house purchase to individuals not seasonally adjusted - LPMVTVU

2. Monthly number of total sterling approvals for house purchase to seasonally adjusted LPMVTVX

United Kingdom Mortgage Loans Approved: sa: Cases: HP: MFIs data was reported at 63,288.000 Unit in Oct 2018. This records an increase from the previous number of 62,550.000 Unit for Sep 2018. United Kingdom Mortgage Loans Approved: sa: Cases: HP: MFIs data is updated monthly, averaging 74,659.000 Unit from Apr 1993 (Median) to Oct 2018, with 307 observations. The data reached an all-time high of 117,923.000 Unit in Feb 2002 and a record low of 25,158.000 Unit in Nov 2008. United Kingdom Mortgage Loans Approved: sa: Cases: HP: MFIs data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB022: Mortgage Loans: Approved.

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.

Home Loans in the United Kingdom increased to 2054 GBP Million in May from -776 GBP Million in April of 2025. This dataset provides - United Kingdom Mortgage Lending- actual values, historical data, forecast, chart, statistics, economic calendar and news.

United Kingdom Mortgage Loans Approved: sa: Cases: HP: Other Specialist Lenders data was reported at 2,999.000 Unit in Sep 2018. This records a decrease from the previous number of 3,261.000 Unit for Aug 2018. United Kingdom Mortgage Loans Approved: sa: Cases: HP: Other Specialist Lenders data is updated monthly, averaging 5,277.500 Unit from Oct 1997 (Median) to Sep 2018, with 252 observations. The data reached an all-time high of 29,803.000 Unit in Oct 2006 and a record low of 790.000 Unit in Oct 2008. United Kingdom Mortgage Loans Approved: sa: Cases: HP: Other Specialist Lenders data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB022: Mortgage Loans: Approved.

Mortgage brokers’ revenue is anticipated to climb at a compound annual rate of 4.5% over the five years through 2024-25 to £2.3 billion, including estimated growth of . Rising residential property transactions stimulated by government initiatives and rising house prices have driven industry growth. However, mortgage brokers have faced numerous obstacles, including downward pricing pressures from upstream lenders and a sharp downturn in the housing market as rising mortgage rates ramped up the cost of borrowing. After a standstill in residential real estate activity in the immediate aftermath of the COVID-19 outbreak, ultra-low base rates, the release of pent-up demand, the introduction of tax incentives and buyers reassessing their living situation fuelled a V-shaped recovery in the housing market. This meant new mortgage approvals for house purchases boomed going into 2021-22, ramping up demand for brokerage services. 2022-23 was a year rife with economic headwinds, from rising interest rates to fears of a looming recession. Yet, the housing market stood its ground, with brokers continuing to benefit from rising prices. Elevated mortgage rates eventually hit demand for houses in the first half of 2023, contributing to lacklustre house price growth in 2023-24, hurting revenue, despite a modest recovery in the second half of the year as mortgage rates came down. In 2024-25, lower mortgage rates and an improving economic outlook support house prices, driving revenue growth. Mortgage brokers’ revenue is anticipated to swell at a compound annual rate of 5.3% over the five years through 2029-30 to £2.9 billion. Competition from direct lending will ramp up. Yet, growth opportunities remain. The emergence of niche mortgage products, like those targeting retired individuals and contractors, as well as green mortgages, will support revenue growth in the coming years. AI is also set to transform the industry, improving cost efficiencies by automating tasks like document verification, risk assessment and customer profiling.

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 Rate in the United Kingdom decreased to 6.98 percent in June from 7.09 percent in May of 2025. This dataset provides - United Kingdom BBA Mortgage Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

United Kingdom Mortgage Loans Approved: Remortgaging data was reported at 8,996.000 GBP mn in Jun 2018. This records a decrease from the previous number of 9,301.000 GBP mn for May 2018. United Kingdom Mortgage Loans Approved: Remortgaging data is updated monthly, averaging 5,681.000 GBP mn from Oct 1997 (Median) to Jun 2018, with 249 observations. The data reached an all-time high of 15,459.000 GBP mn in Apr 2008 and a record low of 764.000 GBP mn in Nov 1997. United Kingdom Mortgage Loans Approved: Remortgaging data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s UK – Table UK.KB022: Mortgage Loans: Approved.

The monthly number of approvals for remortgaging loans to individuals in the UK increased between 2012 and 2020, before plummeting due to the COVID-19 pandemic. In the second half of 2021, remortgaging activity headed for recovery and in October 2022, there were about 50,000 approvals. However, as mortgage interest rates soared, remortgaging fell dramatically, reaching a record low of about 20,000 approvals in October 2023. House purchase mortgage approvals followed a similar trend.

The value of buy-to-let (BTL) mortgage loans for property remortgaging in the UK was forecast to continue to increase in 2025, after plummeting in 2023. In 2023, buy-to-let mortgages originated for a property purchase amounted to ************ British pounds, while remortgage originations totaled ** billion British pounds. By 2026, mortgage lending for purchases was forecast to remain stable, while remortgage lending was expected to rise to ** billion British pounds.

The European home mortgage finance market, currently exhibiting a robust Compound Annual Growth Rate (CAGR) exceeding 6%, presents a significant investment opportunity. Driven by factors such as increasing homeownership aspirations, particularly among millennials, favorable government policies aimed at stimulating the housing market in several key European nations (like the UK's Help to Buy scheme, though with adjustments), and low-interest rate environments (though this is subject to change based on global economic conditions), the market is poised for considerable expansion throughout the forecast period (2025-2033). The market is segmented by application (home purchase, refinance, home improvement, other), provider (banks, housing finance companies, real estate agents), and interest rate type (fixed and adjustable). While the market size for 2025 is not explicitly stated, estimations based on the provided CAGR and considering historical market data from reputable sources suggest a substantial value in the billions, with annual growth consistently adding hundreds of millions each year. Key players such as Rocket Mortgage, United Shore Financial, and major European banks (Aareal Bank, Bank of America, Barclays, etc.) are vying for market share, utilizing diverse strategies to attract borrowers and maintain profitability. However, several restraints could influence the market's trajectory. These include fluctuating interest rates, which directly impact borrowing costs and affordability, potential economic downturns that affect consumer confidence and purchasing power, and increasingly stringent regulatory requirements aimed at safeguarding borrowers and promoting financial stability. Furthermore, competition among lenders is fierce, with banks facing challenges from rapidly growing fintech companies offering innovative mortgage products and services. Despite these challenges, the long-term outlook for the European home mortgage finance market remains positive, particularly in countries experiencing strong population growth and economic stability. Regional variations exist within the European market; the UK, Germany, France, and other large economies are expected to drive significant market value, while smaller nations will contribute proportionally less. The projected market size for 2033 is likely to demonstrate considerable growth from the 2025 base. Understanding these dynamics is crucial for stakeholders to navigate the market effectively. This comprehensive report provides an in-depth analysis of the European home mortgage finance market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated market value in the billions (specific figures will be included in the full report), this study offers valuable insights for investors, lenders, and industry professionals seeking to navigate this dynamic sector. Keywords: Europe mortgage market, home loans Europe, mortgage finance Europe, European housing market, refinancing Europe, home purchase finance Europe, mortgage lenders Europe. Recent developments include: November 2022: Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies, today introduced a conventional loan option for Americans interested in purchasing or refinancing a manufactured home., November 2022: The Council of Europe Development Bank (CEB) approved four new loans worth EUR 232.5 million to boost affordable housing and other social sector development. Under this, it offered EUR 25 million in loans to Kosovo to finance the 'Adequate Social Housing Programme' to establish a sustainable social and affordable housing system in the country.. Notable trends are: Increased Number of Salaried Individuals is Driving the Market Growth.

United Kingdom Mortgage Loans Approved: sa: MFIs data was reported at 20,279.000 GBP mn in Oct 2018. This records a decrease from the previous number of 20,408.000 GBP mn for Sep 2018. United Kingdom Mortgage Loans Approved: sa: MFIs data is updated monthly, averaging 13,010.000 GBP mn from Apr 1993 (Median) to Oct 2018, with 307 observations. The data reached an all-time high of 27,409.000 GBP mn in Nov 2006 and a record low of 3,871.000 GBP mn in Dec 1993. United Kingdom Mortgage Loans Approved: sa: MFIs data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.KB022: Mortgage Loans: Approved.

The European home mortgage finance market, currently valued at an estimated €[Estimate based on provided market size and currency conversion; e.g., €500 Billion] in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) exceeding 6% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, favorable demographics, including a growing population and increasing urbanization in major European cities like London, Paris, and Berlin, contribute to a consistent demand for housing. Secondly, government initiatives aimed at stimulating the housing market, such as tax incentives or subsidized mortgages, are expected to boost market activity. Furthermore, the ongoing trend of low-interest rates in certain parts of Europe has made mortgage financing more accessible and attractive to prospective homebuyers and those seeking refinancing options. This positive environment also benefits market players such as Rocket Mortgage, United Shore Financial, and major European banks. However, the market is not without its challenges. Potential restraints include economic volatility, fluctuations in interest rates (particularly impacting adjustable-rate mortgages), and stringent lending regulations designed to mitigate risks within the financial system. Furthermore, the segment encompassing home improvements faces potential slowing as macroeconomic conditions change and consumers become more cautious with spending. The market is segmented by application (home purchase, refinance, home improvement, other), provider (banks, housing finance companies, real estate agents), and interest rate type (fixed vs. adjustable). The largest segments are likely to be home purchases and fixed-rate mortgages offered by established banks, although the rapid growth of online mortgage providers may shift this dynamic in the coming years. The UK, Germany, France, and other major European economies will continue to dominate the market share, driven by their larger populations and established financial infrastructure. This dynamic landscape presents opportunities for both traditional lenders and innovative fintech companies to capitalize on growth within the diverse segments of the European home mortgage finance market. Recent developments include: November 2022: Rocket Mortgage, the nation's largest mortgage lender and a part of Rocket Companies, today introduced a conventional loan option for Americans interested in purchasing or refinancing a manufactured home., November 2022: The Council of Europe Development Bank (CEB) approved four new loans worth EUR 232.5 million to boost affordable housing and other social sector development. Under this, it offered EUR 25 million in loans to Kosovo to finance the 'Adequate Social Housing Programme' to establish a sustainable social and affordable housing system in the country.. Notable trends are: Increased Number of Salaried Individuals is Driving the Market Growth.