The monthly number of approvals for remortgaging loans to individuals in the UK increased between 2012 and 2020, before plummeting due to the COVID-19 pandemic. In the second half of 2021, remortgaging activity headed for recovery and in October 2022, there were about 50,000 approvals. However, as mortgage interest rates soared, remortgaging fell dramatically, reaching a record low of about 20,000 approvals in October 2023. House purchase mortgage approvals followed a similar trend.
Number of approvals for remortgaging in the United Kingdom (UK) from January 2010 to September 2024
Characteristic
Numbers of approvals for remortgaging
Sep 2024
30,760
Aug 2024
27,612
Jul 2024
25,477
Jun 2024
27,773
May 2024
29,440
Apr 2024
29,776
Mar 2024
33,393
Feb 2024
36,898
Jan 2024
30,870
Dec 2023
30,878
Nov 2023
25,535
Oct 2023
23,271
Sep 2023
20,236
Aug 2023
25,147
Jul 2023
39,681
Jun 2023
39,633
May 2023
34,151
Apr 2023
32,957
Mar 2023
31,642
Feb 2023
27,889
Jan 2023
25,759
Dec 2022
26,661
Nov 2022
32,605
Oct 2022
49,779
Sep 2022
48,254
Aug 2022
49,545
Jul 2022
49,239
Jun 2022
44,583
May 2022
46,334
Apr 2022
46,538
Mar 2022
48,020
Feb 2022
48,677
Jan 2022
47,560
Dec 2021
47,199
Nov 2021
46,548
Oct 2021
40,838
Sep 2021
40,953
Aug 2021
39,524
Jul 2021
37,541
Jun 2021
36,913
May 2021
34,310
Apr 2021
32,908
Mar 2021
34,526
Feb 2021
34,895
Jan 2021
33,428
Dec 2020
35,179
Nov 2020
36,075
Oct 2020
32,447
Sep 2020
32,107
Aug 2020
32,756
Jul 2020
35,941
Jun 2020
37,438
May 2020
29,837
Apr 2020
33,979
Mar 2020
42,038
Feb 2020
52,600
Jan 2020
52,089
Dec 2019
50,064
Nov 2019
48,736
Oct 2019
50,592
Sep 2019
49,085
Aug 2019
48,825
Jul 2019
48,105
Jun 2019
48,596
May 2019
47,607
Apr 2019
49,380
Mar 2019
48,662
Feb 2019
48,040
Jan 2019
49,872
Dec 2018
48,332
Nov 2018
49,136
Oct 2018
48,470
Sep 2018
48,943
Aug 2018
52,069
Jul 2018
45,632
Jun 2018
49,859
May 2018
53,104
Apr 2018
47,503
Mar 2018
45,695
Feb 2018
46,006
Jan 2018
48,158
Dec 2017
48,252
Nov 2017
54,396
Oct 2017
50,270
Sep 2017
47,464
Aug 2017
45,459
Jul 2017
48,067
Jun 2017
47,071
May 2017
44,880
Apr 2017
41,984
Mar 2017
43,193
Feb 2017
44,293
Jan 2017
45,780
Dec 2016
49,001
Nov 2016
46,103
Oct 2016
43,183
Sep 2016
43,333
Aug 2016
41,326
Jul 2016
44,637
Jun 2016
45,011
May 2016
44,683
Apr 2016
42,773
Mar 2016
41,403
Feb 2016
41,700
Jan 2016
41,516
Dec 2015
42,411
Nov 2015
39,448
Oct 2015
39,558
Sep 2015
41,565
Aug 2015
42,010
Jul 2015
39,094
Jun 2015
38,028
May 2015
37,578
Apr 2015
37,304
Mar 2015
33,876
Feb 2015
33,024
Jan 2015
31,343
Dec 2014
33,140
Nov 2014
32,273
Oct 2014
31,471
Sep 2014
30,713
Aug 2014
32,761
Jul 2014
33,576
Jun 2014
31,728
May 2014
29,214
Apr 2014
32,300
Mar 2014
33,590
Feb 2014
34,137
Jan 2014
35,510
Dec 2013
34,373
Nov 2013
34,298
Oct 2013
35,792
Sep 2013
35,651
Aug 2013
35,710
Jul 2013
33,712
Jun 2013
32,393
May 2013
32,790
Apr 2013
31,964
Mar 2013
31,288
Feb 2013
28,278
Jan 2013
25,789
Dec 2012
28,010
Nov 2012
28,268
Oct 2012
28,694
Sep 2012
29,209
Aug 2012
25,610
Jul 2012
24,340
Jun 2012
25,529
May 2012
28,099
Apr 2012
31,164
Mar 2012
29,985
Feb 2012
29,357
Jan 2012
31,514
Dec 2011
31,175
Nov 2011
31,185
Oct 2011
32,736
Sep 2011
32,878
Aug 2011
33,563
Jul 2011
32,236
Jun 2011
32,589
May 2011
29,096
Apr 2011
27,764
Mar 2011
33,141
Feb 2011
38,130
Jan 2011
32,735
Dec 2010
30,392
Nov 2010
33,323
Oct 2010
28,641
Sep 2010
28,387
Aug 2010
27,544
Jul 2010
28,049
Jun 2010
27,691
May 2010
26,886
Apr 2010
26,371
Mar 2010
28,147
Feb 2010
28,038
Jan 2010
23,992
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Bank of England. (November 6, 2024). Number of approvals for remortgaging in the United Kingdom (UK) from January 2010 to September 2024 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/428600/uk-banking-number-approvals-remortgaging/
Bank of England. "Number of approvals for remortgaging in the United Kingdom (UK) from January 2010 to September 2024." Chart. November 6, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/428600/uk-banking-number-approvals-remortgaging/
Bank of England. (2024). Number of approvals for remortgaging in the United Kingdom (UK) from January 2010 to September 2024. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/428600/uk-banking-number-approvals-remortgaging/
Bank of England. "Number of Approvals for Remortgaging in The United Kingdom (Uk) from January 2010 to September 2024." Statista, Statista Inc., 6 Nov 2024, https://www.statista.com/statistics/428600/uk-banking-number-approvals-remortgaging/
Bank of England, Number of approvals for remortgaging in the United Kingdom (UK) from January 2010 to September 2024 Statista, https://www.statista.com/statistics/428600/uk-banking-number-approvals-remortgaging/ (last visited November 21, 2024)
Number of approvals for remortgaging in the United Kingdom (UK) from January 2010 to September 2024 [Graph], Bank of England, November 6, 2024. [Online]. Available: https://www.statista.com/statistics/428600/uk-banking-number-approvals-remortgaging/
