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UK mortgage approvals have hit a 15-month high, despite the Middle East crisis driving up interest rates.
The Bank of England has reported that 65,900 mortgages were approved in April, up from almost 64,000 in March, on a seasonally adjusted basis. That’s the highest level since January 2025.
“Continued resilience in mortgage lending and housing market activity in April suggests the economic fallout from conflict in the Middle East has not yet hit household borrowing as hard as some feared. Mortgage approvals rose to a 15-month high of 65,945 in April, up from March’s 63,979, while gross mortgage lending, was the second-highest level since March 2025.
“Household borrowing is proving surprisingly resilient in the face of geopolitical uncertainty, higher inflation risks and tighter financial conditions. The housing market is far from booming, but it is holding up better than the wider economic backdrop might suggest.
المصدر: The Guardian — Business