UK mortgage approvals fall to lowest since end of 2023

Summarised from 2 outlets · 4 reports · Updated 29 Sept, 17:18 · Archive

The Bank of England reported 54,900 mortgage approvals in August, the lowest since December 2023.

The Bank of England reported 54,900 mortgages were approved for house purchases in August, down from 55,900 in July and the lowest monthly total since December 2023. The Guardian reports that average five-year fixed mortgage interest rates have reached 5.94%, their highest since October 2023, which it links to rising borrowing costs.

How it is being reported

• UK mortgage demand drops to 32-month low as Iran war drives up borrowing costsThe Guardian · 29 Sept, 14:11
• UK mortgage approvals fall to lowest since end of 2023Evening Standard · 29 Sept, 11:27
• UK mortgage approvals fall to lowest since end of 2023Evening Standard · 29 Sept, 11:27
• UK mortgage approvals fall to lowest since end of 2023Evening Standard · 29 Sept, 10:38

In this story: Bank of England · UK

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem