FX.co ★ UK Mortgage Approvals Rise to 9-Month High

In the UK, net mortgage approvals for house purchases, which serve as a predictor of future borrowing, rose to 65,900 in September 2025—an increase of 1,000. This marks the highest level in nine months and surpasses market expectations, which were set at 64,000. Conversely, approvals for remortgaging, specifically with alternative lenders, fell by 600 to a total of 37,200 in the same month. The 'effective' interest rate for newly drawn mortgages saw a decrease of 7 basis points to 4.19%, representing the lowest rate since January 2023 when it stood at 3.88%. This forms part of a descending trend noticeable since March 2025. Meanwhile, the interest rate on the existing mortgage stock remained stable at 3.89%.