Overview

• Remortgaging approvals climbed to 41,800 in June, the strongest monthly total since October 2022 as homeowners seek better deals.
• Mortgage approvals for home purchases rose to around 64,200 last month, the highest level since March.
• Net mortgage borrowing increased by £3.1 billion in June while consumer credit growth accelerated to an annual rate of 6.7%.
• Lending to small and medium enterprises turned positive at 0.3% annual growth for the first time since August 2021, as large corporates repaid a net £2.5 billion.
• Early summer housing activity surged, with sales agreed up 8% and buyer inquiries up 11% year on year.