- Mortgage approvals for home purchases in the UK surged to a four-month high in March, with 63,531 approvals recorded, according to Bank of England figures.
- Approvals for remortgaging with a different lender also saw a significant increase, rising to 51,300 in March from 41,200 in February.
- The average UK house price reached a new record high of £278,880 in April, with annual growth accelerating to 3.0 per cent, Nationwide Building Society announced.
- Industry experts suggest the uptick in approvals points to some resilience in the market, with buyers acting urgently to secure lower rates despite affordability pressures.
- The Bank of England also reported an acceleration in the annual growth rate for all consumer credit to 8.9 per cent in March, alongside increased household deposits and business borrowing.
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