Net mortgage approvals for house purchase in the UK, which is an indicator of future borrowing, increased by 1,000, to 65,900 in September 2025, the highest in nine months and above market expectations of 64,000. Approvals for remortgaging, which only capture remortgaging with a different lender, decreased by 600, to 37,200 in September. The ‘effective’ interest rate on newly drawn mortgages decreased by 7 basis points to 4.19%, the lowest since January 2023 (3.88%), continuing the downward trend observed since March 2025. The rate on the outstanding stock of mortgages remained unchanged at 3.89%.