Net mortgage approvals for house purchases increased by 1,000 in September to total 65,900, new Bank of England (BoE) data has revealed.

This follows the decline of 500 mortgage approvals which the central bank reported in August.

Approvals for remortgaging, which only capture remortgaging with a different lender, decreased by 600, however, to 37,200.

The BoE’s latest Money and Credit report figures also showed that net borrowing of mortgage debt by individuals increased by £1.2bn to £5.5bn during September, the highest since March 2025 (£13.2bn).

September also saw the annual growth rate for net mortgage lending increased to 3.2%, up from 3% in August, which was the highest since January 2023 (3.4%).

The central bank’s data also indicated that gross lending amounted to £24.9bn, up from £23bn in August.

CEO of Just Mortgages and Spicerhaart, John Phillips, commented that an increase in approvals in September had demonstrated the “appetite and demand that still exists in the market”.

“There’s no doubt we are seeing an element of wait and see right now, which hopefully gives way to some pent-up demand once the Budget is cleared and everyone knows the lay of the land,” Phillips said.

“With these figures in mind though, the message to brokers is to remain on the front foot and be there to support those that are navigating the market. Just as important is the role we play in nurturing confidence among clients, highlighting the many opportunities available and encouraging them to push on with their plans.”

Managing director of capital markets and finance at LiveMore, Simon Webb, added: “Buyer interest remains robust as we emerge from the summer slump, but clearly there is ongoing pent-up demand. What the market needs most is a period of stability in monetary policy so the MPC’s decision next week and the outcome of the Autumn Budget will be key.”

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