Mortgage Approvals in the United Kingdom decreased to 65.02 Thousand in October from 65.65 Thousand in September 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 October 2025, mortgage approvals for home purchases totaled ******, while remortgage approvals stood at around ******. 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.

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

Mortgage approvals in the UK refer to the number of new home loans approved by banks and other lenders, serving as a key indicator of housing market activity and consumer confidence.-2025-01-30

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.

Overview with Chart & Report: BoE Mortgage Approvals reflect the number of new mortgages approved during the previous month by UK mortgage lenders. Prior to index publication, a number of alternative mortgage reports are

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.

United Kingdom Mortgage Loans Approved: sa data was reported at 21,790.000 GBP mn in Oct 2018. This records a decrease from the previous number of 21,817.000 GBP mn for Sep 2018. United Kingdom Mortgage Loans Approved: sa data is updated monthly, averaging 13,749.000 GBP mn from Apr 1993 (Median) to Oct 2018, with 307 observations. The data reached an all-time high of 32,936.000 GBP mn in Feb 2007 and a record low of 4,145.000 GBP mn in Nov 1993. United Kingdom Mortgage Loans Approved: sa 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.

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.

United Kingdom Mortgage Loans Approved: MFIs data was reported at 22,737.000 GBP mn in Jun 2018. This records an increase from the previous number of 22,588.000 GBP mn for May 2018. United Kingdom Mortgage Loans Approved: MFIs data is updated monthly, averaging 12,780.000 GBP mn from Apr 1993 (Median) to Jun 2018, with 303 observations. The data reached an all-time high of 30,901.000 GBP mn in May 2007 and a record low of 2,626.000 GBP mn in Jan 1994. United Kingdom Mortgage Loans Approved: MFIs 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.

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.

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 ********* average.

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 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 over 23 billion British pounds in November 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, with the latest data showing a value of 15.6 billion British pounds in May 2025. Remortgage approvals followed a similar trend.

United Kingdom Mortgage Loans Approved: sa: Cases data was reported at 129,388.000 Unit in Sep 2018. This records a decrease from the previous number of 132,974.000 Unit for Aug 2018. United Kingdom Mortgage Loans Approved: sa: Cases data is updated monthly, averaging 134,461.500 Unit from Oct 1997 (Median) to Sep 2018, with 252 observations. The data reached an all-time high of 371,492.000 Unit in Oct 2003 and a record low of 87,422.000 Unit in Jul 2012. United Kingdom Mortgage Loans Approved: sa: 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.

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.

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.

Mortgage approvals in the UK refer to the number of new home loans approved by banks and other lenders, serving as a key indicator of housing market activity and consumer confidence.-2024-08-30