Mortgage approvals fall to 56,100 in July as net lending drops to £4.3bn

Net mortgage borrowing fell to £4.3bn in July from £7.7bn in June, with house purchase approvals at 56,100 against a six-month average near 60,800 — Bank of England data published 1 September. Approvals lead completions by around three months, so autumn transactions look thinner. For sellers that means fewer competing buyers per listing; for buyers, more negotiating room. One month is not a trend, and remortgage approvals rose to 34,500.