UK Nov mortgage approvals unchanged at 67,000 – BoE

UK mortgage approvals for house purchases in November remained remained relatively unchanged at 67,000, the lowest since June 2020’s 40,500, the Bank of England said on Tuesday.
The figure was close to the 12-month average up to February 2020 of 66,700. Approvals for remortgaging with a different lender rose to 44,500 in November, still low compared to the 12-month average up to February 2020 of 49,500, but the highest since February 2020’s 52,500, the bank added.

Net borrowing of mortgage debt by individuals increased to £3.7bn in November, from £1.1bn in October. November’s increase follows low net lending figures in October after borrowing was brought forward to September to take advantage of stamp duty land tax relief, before it was completely phased out.

The net borrowing in November was however £2.9bn below the 12-month average to June 2021, when the full stamp duty holiday was in effect.

Gross lending increased to £22.1bn in November, from £19.5bn in October. Gross repayments rose to £19.4bn from £18.2bn in October.

Related Articles

Sign up to the IFA Newsletter

Name

Trending Articles


IFA Talk is our flagship podcast, that fits perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast – listen to the latest episode

IFA Magazine
Privacy Overview

Our website uses cookies to enhance your experience and to help us understand how you interact with our site. Read our full Cookie Policy for more information.