Related topic: Bank of England

The UK economy is showing signs of resilience despite an uncertain geopolitical environment. 

The typical household will see payments rise by around £540 a year, however, a number of households are projected to see a significant increase in repayments.

Net mortgage borrowing decreased to £2.9 billion in May, from £4.4 billion in April.

An extended hold to interest rates is "very much the correct and appropriately measured policy response", Taylor said.

A hold was widely predicted after UK CPI inflation held steady at 2.8% in May.

The surprise inflation figures "could trigger a mortgage price war", industry experts predict.

As a result, many expect the Bank of England to adopt a 'wait and see' approach to interest rates at its meeting next week.

The latest Bank of England mortgage market data shows new commitments rising 11.5% quarter-on-quarter to £78bn, even as gross advances fell sharply, with stamp duty distortions...

Greene has hinted at future rate rises, arguing for a 'proactive approach' to growing inflation.

Despite approvals holding up, net mortgage borrowing dipped in April following a strong Q1.