FX.co ★ UK Mortgage Approvals Rise More than Expected

Net mortgage approvals for UK house purchases rose to 63,531 in March 2026, up from a revised 62,708 in February and above market expectations of 60,000. This was the highest reading since November 2025 and slightly above the six-month average of around 63,200, reflecting support from falling borrowing costs. Remortgaging approvals—covering only borrowers switching to a different lender—also increased sharply, to 51,300 in March from 41,200 in February. The effective interest rate on newly drawn mortgages declined to 4.03% in March from 4.10% in February, while the rate on the existing stock of mortgages eased to 3.93% from 3.95%.