Decline in mortgage approvals for September

October 30, 2015

Official figures released yesterday show mortgage approvals declined for the first time in four months in September.

According to data published by the Bank of England, mortgage approvals for house purchases declined from 70,664 to 68,874 last month, compared with analysts’ expectations for a 72,500 reading.

Overall lending rose at its fastest rate since December 2008, this was boosted by strong growth in mortgage lending and consumer credit according to the report.

“The dip in mortgage approvals in September could possibly reflect recent modestly reduced expectations of a near-term rise in interest rates,” said Howard Archer, chief UK and European economist IHS Global Insight.

“It may be that mortgage approvals had been lifted in recent months by a significant number of house buyers looking move quickly to try and lock in a low mortgage interest rate before they start rising.”

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Making Small Office Spaces Feel Much Larger

Small offices can often seem tight, making it hard for employees to work comfortably. Not enough space may lower mood and affect how well people do their jobs. Good design choices, though, help any small workspace feel bigger, brighter, and easy to move around in. How a space is perceived can often influence comfort and…
Read More →
Planning disputes on new build land
Breaking News

£2.7bn in Development Opportunities Across England

The latest research by specialist property finance lender, West One Loans, has shown that there are currently £2.7 billion worth of development opportunities in the current market, with the South West home to the highest proportion of potential plots available for developers to capitalise on. West One Loans analysed current land, plot, and site listings…
Read More →
Breaking News

Stabilising the property market ahead of Autumn Budget

As she prepares the October Budget, Daniel Austin, CEO and co-founder at ASK Partners writes this letter to urge the Chancellor to take decisive action now to stabilise the property market and build long-term economic resilience. Despite cautious optimism around initiatives such as Help to Buy and planning reform, the market remains stagnant amid persistent…
Read More →
Estate Agent Talk

Fresh water property hotspots outperforming wider market

Fresh water property hotspots see house prices climb at almost three times the national average The latest research from leading estate agent Yopa has found that house prices in areas surrounding the UK’s lakes, lochs, and reservoirs have grown at nearly three times the national average over the last year, with the annual rate of…
Read More →
Home and Living

Best Parks & Outdoor Spaces in St Albans for Weekend Relaxation

St Albans is a vibrant city renowned for its beautiful green spaces and parks, making it a perfect destination for weekend relaxation and leisure. With its rich history and stunning landscapes, visitors and locals alike are drawn to the serenity and beauty of St Albans’ outdoor spaces. Whether you’re planning a family outing, a peaceful…
Read More →
Rightmove logo
Breaking News

Retail investment bounces back as Bank Rate cut again

Demand to invest in retail commercial property is up by 35% compared to a year ago, shifting from being 15% down year-on-year in 2024 Overall demand to invest in commercial property is up by 20% as the interest rate environment improves, and the Bank Rate is cut for the second time this year Office sector…
Read More →