FX.co ★ UK Mortgage Approvals Beat Forecasts

In June 2025, the UK's net mortgage approvals for house purchases—a crucial measure of upcoming borrowing trends—climbed to 64,167, up from a revised 63,290 in May. This figure surpasses market predictions, which anticipated a reduction to 62,500, indicating a stronger-than-expected performance. This data suggests a revival in the housing market's momentum after the conclusion of a homebuyer tax incentive in April. Additionally, remortgaging approvals, involving loans with new lenders, increased by 200, reaching 41,800 in June—the highest since October 2022. At the same time, the 'effective' interest rate for new mortgages continued its fourth month of decline, dropping to 4.34% in June from 4.47% in May. Conversely, the interest rate on existing mortgage balances inched up marginally from 3.87% to 3.88%.