The value of mortgage approvals in the UK started to increase in the final quarter of 2023, reaching 22.7 billion British pounds in September 2024. In recent years, the market has undergone significant fluctuations, including a dramatic decline in May 2020 because of the COVID-19 pandemic and two notable drops in 2023, attributable to the aggressive mortgage interest rate hikes and worsening economic conditions.
Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in the United Kingdom (UK) from January 2017 to September 2024
(in million GBP)
Characteristic
Value of approvals for lending secured on dwellings in million GBP
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Bank of England. (November 7, 2024). Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in the United Kingdom (UK) from January 2017 to September 2024 (in million GBP) [Graph]. In Statista. Retrieved November 18, 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 the United Kingdom (UK) from January 2017 to September 2024 (in million GBP) ." Chart. November 7, 2024. Statista. Accessed November 18, 2024. https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/
Bank of England. (2024). Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in the United Kingdom (UK) from January 2017 to September 2024 (in million GBP) . Statista. Statista Inc.. Accessed: November 18, 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 The United Kingdom (Uk) from January 2017 to September 2024 (in Million Gbp) ." Statista, Statista Inc., 7 Nov 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 the United Kingdom (UK) from January 2017 to September 2024 (in million GBP) Statista, https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/ (last visited November 18, 2024)
Total value of approvals for house purchase lending and remortgaging (lending secured on dwellings) in the United Kingdom (UK) from January 2017 to September 2024 (in million GBP) [Graph], Bank of England, November 7, 2024. [Online]. Available: https://www.statista.com/statistics/320057/uk-banking-value-approvals-lending/
