UK Mortgage Approvals Hit 15-Month High as Borrowing Jumps
- Bank of England data suggest housing market gaining momentum
- Mortgage interest rates have been creeping higher again
A sold property in Sittingbourne, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The number of mortgages given the green light by UK lenders rose to a 15-month high in January, adding to signs that the housing market is gathering momentum.
Banks and building societies approved 55,227 home loans, up from 51,506 in December and the fourth straight monthly increase, according to data from the Bank of England. The figure was far higher than the 52,000 forecast by economists.