Jump to content
AskTraders Trading Community
  • 0

How is the housing demand in the UK affecting the mortgage approval rate?


John Naronha

Question

4 answers to this question

Recommended Posts

  • 0

The number of mortgages approved by Britain’s banks for new house purchases rose to a seasonally-adjusted 42,653 in June from 42,047 the previous month, based on the revised data from UK Finance. While the mortgage approvals came in below analysts’ expectations of 42,900, June’s figures are a notch below April’s two-year highs of 42,792.

From the time Britain voted to leave the European Union in 2016, the country has witnessed robust consumer demand in spite of the housing market slowing down in London and the surrounding areas, prompting the chief economist of the Bank of England Andy Haldane to issue a statement saying that the housing market had bottomed out. On the other hand, loan approvals on dwellings for re-mortgaging rose from 28,748 in May to 28,806 in June while net mortgage lending too surged from £1.374bn to £1.579bn.

With Boris Johnson taking over as the UK’s prime minister amid clear signs that the country would exit the European Union one way or the other, the outlook for the housing market, along with a host of other key macroeconomic figures, remains uncertain in the near-term.

Link to comment
Share on other sites

  • 0

Well, this subject was way past my knowledge, but with all the COVID pandemic, I got myself in the situation that I was in deep need of a mortgage loan. From what I have heard before is hard to find a reliable and trustworthy company. That's why I spent a lot until I reached a valuable later life lending company. They are experienced and know how to work with the public. What I admired the most was that, explained me detailed the information and came up with great suggestions. They give excellent terms, which will provide me a sweet and peaceful retirement.

 

 

 

 

 

 

 

 

Edited by Tim Coleman
Link to comment
Share on other sites

Join the conversation

You can post now and register later. To reply to this question, sign in or create a new account.

Guest
Reply to this question

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...