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Taking into account that the state of the UK property market is always in the focus of traders of British currency, the importance of this index is very high. Large amount of mortgage approvals will result in the growth of loans and homes sold. Therefore, the indicator can be regarded as a leading indicator of the housing market, in addition the index also characterizes the lending sector.
- Release Frequency: monthly.
- Release Schedule: 09:30 GMT.
- Source: The Bank of England.