The value of mortgage approvals in the United Kingdom (UK) plummeted in the final months of 2022 and the beginning of 2023, as interest rates reached some of the highest values observed in the past decade. In January 2023, the value of mortgage approvals including remortgaging and home purchases hit approximately 13.5 billion British pounds, down from the market peak of 30 billion British pounds in November 2020. Nevertheless, the lowest value was observed in May 2020 during the coronavirus (COVID-19) lockdown.
Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in United Kingdom (UK) from January 2017 to July 2023
(in million GBP)
Characteristic
Value of approvals for lending secured on dwellings in million GBP
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Bank of England. (September 25, 2023). Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in United Kingdom (UK) from January 2017 to July 2023 (in million GBP) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/
Bank of England. "Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in United Kingdom (UK) from January 2017 to July 2023 (in million GBP) ." Chart. September 25, 2023. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/
Bank of England. (2023). Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in United Kingdom (UK) from January 2017 to July 2023 (in million GBP) . Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/
Bank of England. "Total Value of Approvals for House Purchase Lending and Remortgaging (Lending Secured on Dwellings) in United Kingdom (Uk) from January 2017 to July 2023 (in Million Gbp) ." Statista, Statista Inc., 25 Sep 2023, https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/
Bank of England, Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in United Kingdom (UK) from January 2017 to July 2023 (in million GBP) Statista, https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/ (last visited August 24, 2024)
Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in United Kingdom (UK) from January 2017 to July 2023 (in million GBP) [Graph], Bank of England, September 25, 2023. [Online]. Available: https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/
