LONDON, June 29 (Reuters) – British mortgage lenders approved 56,205 mortgages for house purchase in May, the fewest since December 2023, and well below both April’s 66,034 and the 62,900 median forecast in a Reuters poll of economists, Bank of England data showed on Monday.
Net unsecured lending to consumers rose by £1.662 billion ($2.19 billion) on the month, below economists’ forecast of a £1.8 billion increase an the smallest rise since December 2025.
Rising mortgage rates and weaker consumer confidence since the start of the Iran war have caused drops in house prices and buyer demand.
($1 = 0.7572 pounds)
Reporting by Suban Abdulla; editing by David Milliken.
