UK Business Morning: May Mortgage Approvals Surpass Expectations
Mortgage approvals in the UK rose in May, defying expectations and signaling a potential recovery in the housing market.
In this episode of UK Business Morning, Alice and Lewis discuss the latest mortgage approvals data, which showed an unexpected increase in May. This rise, the first since December 2024, suggests a potential recovery in the housing market, despite higher stamp duty costs. Lewis highlights the significant boost in re-mortgage approvals and expert opinions on market stability. The hosts also explore the impact of interest rates and the possibility of a rate cut in August. Additionally, they touch on consumer credit trends, including a decline in net borrowing and its connection to retail sales. Join Alice and Lewis as they provide insights into the current economic landscape and what it means for the UK housing market and broader economy.
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