Overview
- Bank of England data show 65,940 purchase approvals in September, roughly 1,000 more than in August and the highest since January.
- The effective interest rate on new mortgages fell to 4.19% in September, the lowest since January 2023 after months of gradual declines.
- Net mortgage borrowing rose to £5.5 billion, the strongest monthly increase since March.
- Remortgage approvals with different lenders edged down to about 37,200, with many households nearing the end of low fixed-rate deals facing higher costs.
- Estate agents report some paused transactions as unconfirmed reports of potential property-tax measures, including a so-called mansion tax, weigh on sentiment ahead of the Autumn Budget.