India, June 30 -- UK mortgage approvals increased for the first time so far this year in May, suggesting an improvement in housing market activity, figures from the Bank of England showed Monday.
The net mortgage approvals for house purchases that indicate future borrowing rose by more-than-expected 2,400 to 63,000 in May. This was the first increase since December 2024 and also exceeded economists' forecast of 61,000. Approvals for remortgaging also increased in May, by 6,200 to 41,500. This was the largest increase since February 2024, data showed.
Net borrowing of mortgage debt by individuals rose by GBP 2.8 billion to GBP 2.1 billion, following a large decrease of GBP 13.8 billion to -GBP 0.8 billion in April. At the same time, gross ...