Related topic: Approvals

Mortgage rates had already begun to increase in February, before the full effects of the conflict in West Asia pushed up swap rates.

The rate on newly-drawn mortgages continues to fall, which could boost buyer confidence in the Spring.

A December dip is mortgage approvals is likely to be short lived, industry experts say.

Purchase approvals fell as mortgage rates increased for the first time since February.

The average interest rate paid on newly drawn mortgages decreased for the sixth consecutive month, to 4.26%.

Average mortgage rates have fallen for the fifth consecutive month.

Remortgaging approvals are at their highest since October 2022.

Gross lending decreased significantly to £16.9 billion in April.

Gross lending is at its highest level since 2021.

Residential mortgage approvals also increased in December.