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Number of mortgage approvals in the UK 2012-2022

Published by Statista Research Department, Nov 17, 2022
The total monthly number of mortgage approvals for the purpose of a house sale in the United Kingdom (UK) increased for the second month in a row in August 2022, reaching approximately 74,000. Being approved for a mortgage is one of the first steps in purchasing a home, which makes it an early indicator about the development of transaction volumes. However, a mortgage approval does not necessarily mean that a sale is going to take place, as home buyers need to undergo several other steps to complete the sale: conveyancing, or the process of transferring the legal title of the property from the seller to the buyer, a property survey, contracts exchange, and closing. As a result of the coronavirus (COVID-19) pandemic, the number of mortgage approvals plunged in the second quarter of 2020, followed by a spike in November 2020.

Total number of mortgage approvals in the United Kingdom (UK) from January 2012 to August 2022, by loan type (in 1,000s)

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Release date

September 2022

Region

United Kingdom

Survey time period

January 2012 to August 2022

Supplementary notes

Seasonally adjusted.

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