Net mortgage approvals for UK house purchases, a key indicator of future borrowing, decreased to 53,400 in September 2026, from 54,800 in August and below market expectations of 54,000. Approvals reached their lowest level since December 2023 and remained well below the previous six-month average, highlighting continued pressure from elevated borrowing costs. Approvals for remortgaging with a different lender increased to 42,600 in September, from 34,000 in August. The effective interest rate on newly drawn mortgages increased to 4.63% in September, from 4.60% in August. The rate on the outstanding stock of mortgages was 4.03% in September, up from 4.00% in August.