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UK mortgage approvals were slightly lower than expected last month, according to numbers from the Bank of England on Monday. Mortgage approvals totalled 65,481 in February, fading slightly from 66,041 in January. They had been expected to land around 66,000 last month, according to FXStreet-cited market consensus, so were slightly below expectations. Approvals for remortgaging decreased to 31,976 in February from 32,823 in January. The ’effective’ interest rate, the actual interest paid on newly drawn mortgages, increased by 2 basis points to 4.53% in February from 4.51% in January. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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