FX.co ★ UK Mortgage Approvals Beat Forecasts

In November 2025, net mortgage approvals for purchasing homes in the UK experienced a decrease of 500, totaling 64,500. This figure surpassed market predictions of 64,400. Conversely, approvals for remortgaging—specifically those involving a change in lender—experienced an increase of 3,200, reaching 36,600 in the same month. The ‘effective’ interest rate, which reflects the actual interest paid on newly obtained mortgages, rose for the first time since February 2025 (where it stood at 4.53%), reaching 4.20% in November compared to 4.17% in October. Additionally, the interest rate on the existing stock of mortgages increased slightly to 3.90% in November, compared to 3.89% in the preceding month.