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UK mortgage approvals lowest since December 2023 as borrowing costs rise – business live

The Guardian UK Tuesday 29 September 2026, 09:17 UTC By Graeme Wearden 1 min read
Key Points

Rolling coverage of the latest economic and financial newsNewsflash: the number of mortgages approved by UK lenders has fallen to its lowest level since the end of 2023.Just 54,918 new home loans were approved in August on a seasonally-adjusted basis, new Bank of England data shows, as rising borrowing costs deterred potential home buyers. The average 2-year fixed residential mortgage rate today is 5.93%. This is up from 5.91% the previous working day.

Rolling coverage of the latest economic and financial news

Newsflash: the number of mortgages approved by UK lenders has fallen to its lowest level since the end of 2023.

Just 54,918 new home loans were approved in August on a seasonally-adjusted basis, new Bank of England data shows, as rising borrowing costs deterred potential home buyers.

The average 2-year fixed residential mortgage rate today is 5.93%. This is up from 5.91% the previous working day.

The average 5-year fixed residential mortgage rate today is 5.94%. This is up from 5.93% the previous working day.

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UK (LOCATION) Bank of England (ORG)
Originally published by The Guardian UK Read original →

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