Financial News: UK Mortgage Approvals Rise In June Despite Higher

UK Mortgage Approvals Rise In June Despite Higher Rates

07/29/2026 - 07:43:00 (RTTNews)

(RTTNews) - UK mortgage approvals increased in June despite rising borrowing costs, data published by the Bank of England revealed Wednesday. Mortgage approvals for house purchases, an indicator of future borrowing, increased to 58,200 in June from 56,600 in May.

Similarly, approvals for remortgaging increased in June, to 34,200 from 33,800 in the previous month.

The 'effective' interest rate, which is the actual interest paid on newly drawn mortgages increased to 4.35 percent in June from 4.22 percent in the previous month.

Consumer credit rose slightly to GBP 1.8 billion in June from GBP 1.7 billion in May. Within this, net borrowing through credit cards rose to GBP 0.9 billion, while borrowing through other forms of consumer credit fell to GBP 0.9 billion.

Annual growth in consumer credit rose to 9.1 percent from 9.0 percent in the previous month.

Further, data showed that businesses borrowed GBP 1.5 billion in June compared to GBP 1.1 billion borrowing in May.

Large non-financial businesses borrowed GBP 0.9 billion, while small and medium-sized businesses borrowed net GBP 0.6 billion in June. The BoE is set to announce its next monetary policy decision on July 30. Markets widely anticipate the BoE to keep the rates on hold at 3.75 percent, which is the lowest since June 2023. The bank had lowered the rate by a quarter-point each in August and November last year.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

French Private Sector Growth Rebounds (12 min(s), 46 sec(s) ago)
(RTTNews) - France's private sector activity returned to growth in September and marked the fa ...Full Story»

Dutch Q2 GDP Growth Revised Higher (14 min(s), 46 sec(s) ago)
(RTTNews) - The Dutch economic growth improved more than estimated initially in the second quarte ...Full Story»

Australia Private Sector Growth Eases To 3-Month Low (01 hr(s), 18 min(s), 46 sec(s) ago)
(RTTNews) - Australia's private sector grew at the slowest pace in three months in September, ...Full Story»

Indonesia Rate Decision On Tap For Wednesday (13 min(s), 14 sec(s) ago)
(RTTNews) - The central bank in Indonesia will wrap up its monetary policy meeting and then announ ...Full Story»

Slovenian Consumers More Pessimistic In September (37 min(s), 14 sec(s) ago)
(RTTNews) - Consumers in Slovenia remained slightly more pessimistic in September, and the confide ...Full Story»

Belgian Consumer Confidence Weakens In September (02 min(s), 14 sec(s) ago)
(RTTNews) - Households in Belgium expressed a more pessimistic attitude in September as they expre ...Full Story»

Spain Trade Gap Widens In July (27 min(s), 14 sec(s) ago)
(RTTNews) - Spain's foreign trade deficit increased notably in July from a year ago as imports ...Full Story»

Taiwan Export Order Growth Accelerates To 71.4% (51 min(s), 14 sec(s) ago)
(RTTNews) - Taiwan's export order growth quickened for the third straight month in August, dat ...Full Story»