UK mortgage approvals hit four-month high as buyers rush to beat rising rates

British lenders approved the most mortgages in four months in March while consumer lending grew at the fastest ​annual rate in over two years, according to Bank of England ‌data which showed some resilience in the economy at the start of the Iran war.

The number of mortgages approved for house purchase – a leading indicator for home sales – ​rose to 63,531 in March from 62,708 in February, the highest ​number since November and bucking economists’ expectations in a Reuters poll ⁠for a fall.