UK mortgage approvals tick higher in June
By Michele Maatouk
Date: Wednesday 29 Jul 2026
(Sharecast News) - UK mortgage approvals ticked higher in June, according to data released on Wednesday by the Bank of England.
The latest monthly Money and Credit report showed that net mortgage approvals for house purchases rose to 58,200 from 56,600 in May.
Net borrowing of mortgage debt rose to £7.7bn from £3.3bn in May, coming in above the previous six-month average of £4.9bn.
The 'effective' interest rate - the actual interest paid - on newly-drawn mortgages increased to 4.35% in June from 4.22% the month before. The rate on the outstanding stock of mortgages was 3.96%, up from 3.92% in May.
The report also showed that net borrowing of consumer credit by individuals nudged up to £1.8bn from £1.7bn. Within that, net borrowing through credit cards rose to £0.9bn in June from £0.6bn the month before, while net borrowing through other forms of consumer credit such as car dealership finance and personal loans fell to £0.9bn from £1.1bn.
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