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

Crowded beaches - Clacton-on-Sea in Essex
Breaking News

Overheating moves up the housing agenda

441,000 rental homes fail thermal comfort standards The latest analysis from Inventory Base has found that an estimated 441,000 private rented homes in England failed thermal comfort standards in 2024, accounting for 40.3% of all non-decent private rental properties, as major reforms to the Housing Health and Safety Rating System (HHSRS) came into force on…
Read More →
Breaking News

Annual house price growth slows in June

The latest Nationwide House Price Index for June 2026 shows that: House prices fell by -0.0% between May 2026 and June 2026. Annual house price growth increased to 2.2% in June 2026, up from 1.7% in May 2026. The average UK house price for June 2026 now stands at £277,484, down slightly from £278,024 in…
Read More →
Breaking News

Nationwide House Price Index May 2026

UK annual house price growth picked up to 3.0% in April, from 2.2% in March House prices were up 0.4% month on month Headlines Apr-26 Mar-26 Monthly Index* 554.8 552.7 Monthly Change* 0.4% 0.9% Annual Change 3.0% 2.2% Average Price (not seasonally adjusted) £278,880 £277,186 * Seasonally adjusted figure (note that monthly % changes are…
Read More →
Breaking News

Breaking Property News 30/6/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   8% of commercial real estate investors and owners have started AI pilots – the reasons why most fail Only 5% of CRE operators achieve most of their AI program goals According to JLL’s 2025 Global Real Estate Technology Survey of more than 1,500 senior…
Read More →
Rightmove logo
Breaking News

What the average asking price buys across Great Britain

New analysis from the UK’s largest property platform Rightmove reveals what buyers can get for the current average asking price of a home, at approximately £378,000 The analysis shows that in some areas, buyers can find five-bedroom homes for around the national average asking price, whereas in other areas it is only a flat or studio that buyers can afford There are clear…
Read More →
Breaking News

3 in 5 homes listed for sale since January are still on the market

Higher mortgage rates and political uncertainty hits housing sales with three in five homes since January still searching for a buyer   Three in five homes listed for sale since January are still on the market – with sales agreed over the last 4 weeks -7% lower than last year Buyer demand has also fallen…
Read More →