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UK mortgage approvals higher than forecast in June - Bank of England

Provided by Alliance News Jul 29, 2026, 1:40:38 PM

(Alliance News) - UK mortgage approvals were higher than expected last month, numbers on Wednesday showed.

According to the Bank of England, mortgage approvals rose to 58,200 in June from 56,565 in May, topping the FXStreet cited consensus of 57,100. June's figure was below an average of around 61,400 over the previous six months, however.

Net borrowing of mortgage debt rose to GBP7.7 billion in June from GBP3.3 billion.

The 'effective' interest rate, the actual interest paid on newly drawn mortgages, stretched to 4.35% in June, from 4.22% in May.

The central bank announces a rate decision on Thursday. It is expected to keep bank rate at 3.75%.

By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2026 Alliance News Ltd. All Rights Reserved.

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