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British lenders see unexpected surge in mortgage approvals in January

Published 03/03/2025, 12:08
British lenders see unexpected surge in mortgage approvals in January

Investing.com -- British lenders witnessed a surge in mortgage approvals and an increase in net mortgage lending in January, exceeding expectations, according to data from the Bank of England released on Monday.

A total of 66,189 mortgages were approved for house purchases in the first month of the year, showcasing a strong start to 2023.

Moreover, the Bank of England reported that net mortgage lending escalated to £4.207 billion ($5.31 billion) in January, up from £3.343 billion in the previous month. This marked the highest level since September 2022.

The data indicates a robust performance from British lenders at the start of the year, with mortgage approvals and net lending both exceeding anticipated figures.

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