UK mortgage approvals lowest since December 2023 as borrowing costs rise – business live
Rolling coverage of the latest economic and financial news
Newsflash: the number of mortgages approved by UK lenders has fallen to its lowest level since the end of 2023.
Just 54,918 new home loans were approved in August on a seasonally-adjusted basis, new Bank of England data shows, as rising borrowing costs deterred potential home buyers.
The average 2-year fixed residential mortgage rate today is 5.93%. This is up from 5.91% the previous working day.
The average 5-year fixed residential mortgage rate today is 5.94%. This is up from 5.93% the previous working day.
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