Net mortgage approvals for UK house purchases rose to 65,900 in April 2026, up from 64,000 in March. This exceeded market expectations of 61,700 and represented the highest level since January 2025. Approvals for remortgaging — which only include cases where borrowers switch to a different lender — were broadly unchanged from March.
The effective interest rate on newly drawn mortgages edged up to 4.08% in April, from 4.03% in March. By contrast, the rate on the outstanding stock of mortgages slipped slightly to 3.92% in April, from 3.93% a month earlier.
