Net mortgage approvals for house purchase fell to 56,100 in July 2026 from 58,200 in June in the Bank of England data, below the 60,800 six-month average. Mortgage Solutions described the decline as 3.6 per cent. Net mortgage borrowing by individuals dropped to 4.3 billion pounds from 7.7 billion pounds. Remortgaging approvals rose to 34,500. The rate on newly drawn mortgages increased to 4.45 per cent. Mortgage Solutions put gross lending at 25.9 billion pounds.
Net mortgage approvals for house purchase fell to 56,100 in July from 58,200 in June in the Bank of England money-and-credit data for July 2026, below the 60,800 average of the previous six months. Mortgage Solutions reported the same 56,100 figure and described the move as a 3.6 per cent decline from June. Mortgage Solutions also placed approvals below the 60,800 six-month average.[1], [2]
Net mortgage borrowing by individuals dropped to 4.3 billion pounds from 7.7 billion pounds, according to the Bank of England. Mortgage Solutions reported the same 4.3 billion pounds as net borrowing of mortgage debt by homeowners, down from 7.7 billion pounds in June and well below the previous six-month average of 5.3 billion pounds. Gross mortgage lending, in the Mortgage Solutions account, fell from 26.9 billion pounds in June to 25.9 billion pounds in July, below the six-month average of 26.4 billion pounds. Repayments increased to 21.3 billion pounds from 21.2 billion pounds, still above the six-month average of 20.8 billion pounds.[1], [2]
Remortgaging approvals rose to 34,500 from 34,100 in both the Bank of England release and the Mortgage Solutions report. The effective interest rate on newly drawn mortgages increased to 4.45 per cent in July from 4.35 per cent in June. Mortgage Solutions said the average rate on the outstanding stock of mortgages ticked up from 3.96 per cent to 3.97 per cent, and that the annual growth rate for net mortgage lending remained unchanged at 3.6 per cent in July. Net consumer credit borrowing, in the Bank of England figures, rose to 2.0 billion pounds from 1.9 billion pounds, while the credit card component eased to 0.9 billion pounds from 1.0 billion pounds.[1], [2]
