Gross mortgage lending by mutuals rose 11% month-on-month to GBP 2 billion in July, the Building Societies Association said Tuesday. That was the highest monthly figure so far this year.
Mortgage approvals made in July amounted to GBP 1.9 billion, unchanged from June. Net lending by mutuals was negative GBP 379 million compared to negative GBP 432 million in June.
Adrian Coles, director-general of the BSA, said,"Lending by mutual mortgage providers has picked up over the summer months, and the approvals figures suggest this level of lending may continue in the near future."
Nevertheless, while the outlook appears a little brighter, there remain significant challenges such as heightened uncertainty about job prospects and household incomes, potentially limiting future demand. This could make it difficult to sustain the growth in activity, Coles said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.