UK mortgage approvals decline, indicating slowing demand in the property market. Bank of England data cited by outlets show that 56,205 mortgages are approved in the most recent month reported, down from 66,034 in April. The latest figure is described as the lowest since December 2023. Multiple reports attribute the weaker activity to higher borrowing costs, which make mortgages more expensive for potential buyers. They also note buyer caution linked to uncertainty and fears of possible new policy measures, described in one report as concern about a “Burnham tax raid,” which may be affecting decisions in the housing market. Overall, the articles present the same core movement: mortgage approvals fall month-to-month and are at a low point compared with recent months. The coverage frames the slowdown as consistent with affordability pressures and continuing uncertainty around the outlook for housing costs and policy, without providing additional countervailing data or alternative explanations.