Mortgage approvals from the United Kingdom fell to the lowest level in eight months in March despite the fact that housing buyers are hurried to complete property transactions before the increase in bell taxes, they have revealed the latest figures.
Mortgage approvals fell from 800 to 64,309 in March, which is the lowest level since July 2024, said the Bank of England.
The data of the Bank of England also showed that the net indebtedness of the mortgage debt increased by £ 9.7 billion to reach £ 13 billion in March. The general loans at £ 39.9 billion were the highest since June 2021, which agreed with the end of another stamp tax party in England and Northern Ireland on June 30, 2021.
But analysts focused more on the room in the volume of mortgage approvals for new acquisitions.
Alice Haine, a personal finance analyst at Bestinvest by Evelyn Partners, said: “The approval of mortgages from the United Kingdom, an indicator of future loans, fell in March for the third consecutive month despite the increase in the race in buyers’ races to overcome the deadline. Complete the agreement before the thresholds were removed at the previous lower level.
“The uncertainty in the economy in general may also have played a role in reducing the activity of the mortgage market in March. The concerns that inflation will increase in the course of the year, the result of the ree of taxes of the autumn declaration, and the chanancelor and the tea of banlor and benchlor and tea -boncellor and tea Trump trump tariffs. its cost cost position.
“It is likely that the highest bell tax costs are a challenge for buyers in the future, partly for first -time buyers who must not only raise a deposit, but also obtain additional funds a larger tax bill.”
Stephanie Daley, director of associations at Alexander Hall, highlighted the fact that the activity of the mortgage market has been consistently solid since the beginning of last year, with the monthly approvals of mortgages since then since January.
She said: “This impulse has continued in 2025 despite a slight market cooling in the period prior to the deadline of bell taxes, with the confidence of the buyer increased by a number or a base rate in August of August or the last year of cut last year the next strengthening as the year progresses.
“We have already seen many lenders act in advance of a reduction in the May base rate, with a fixed sacrifice rate that deals with the interest rates of the sub-four percent. However, this means that if the base rate falls next week, it will be considered that it already considered it in the existing sacrifices.”
Simon Gammon, managing partner of Knight Frank Finance, believes that the mortgage market is likely to see a break in the data next month.
It has been commented: “Mortgage approvals for the purchase of the house, which fell marginally, sacrifice a better measure of real estate health.
“The fall in mortgage rates will feed an increase in activity as the year progresses, providing volatility in global commercial policy and the economic perspective of the United Kingdom remains on their way. The lenders are involved in a price war, which has rapidly increased the feeling among buyers. Both HSBC and Barclays reduce the rates this week, after a great reproduction of Santander the week of Santander past.
