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01.09.202509:18:04UTC+00UK Mortgage Approvals Hit Six-Month High

In July 2025, net mortgage approvals for house purchases in the UK increased to 65,352, up from a previously adjusted 64,571 in June. This figure surpassed market expectations of 64,400, reaching its highest point since January. This data suggests that the housing market continues its recovery momentum after the expiration of a tax break for homebuyers in April, coupled with declining interest rates. However, remortgage approvals, which reflect the activity of borrowers switching lenders, decreased by 2,700 to a total of 38,900 in July. The 'effective' interest rate on newly secured mortgages fell for the fifth consecutive month to 4.28%, down from 4.34% in June, while the interest rate on existing mortgage stocks held steady at 3.88%.

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