Mortgage Approvals Plunge as UK Lending Figures Show Mixed Signs

UK mortgage lenders approved a relatively small number of mortgages in July, with only 56,053 house purchase loans being given the green light. This is the lowest figure since January 2024 and falls short of both June's total of 58,215 and economists' median forecast of 59,500.

The Bank of England data revealed that net unsecured lending to consumers rose by £2.006 billion in July, beating economists' expectations of a £1.8 billion increase and marking the largest rise since November 2025.