The largest share of homeowners with a mortgage in England in 2024 were couples with dependent child(ren), with a share of ** percent. With a share of ** percent, about three times as many homeowners with a mortgage were couples with no dependent children when compared to couples with independent children at that time. The largest group of people in England buying a house with mortgage in 2023 were 45 to 54 years old.

Data for households in receipt of Support for Mortgage Interest (SMI) loans is available in Stat-Xplore on a quarterly basis.

These quarterly official statistics include:

• the https://stat-xplore.dwp.gov.uk/webapi/openinfopage?id=SMI_CASELOAD" class="govuk-link">number of households who are currently in receipt of the support
• the https://stat-xplore.dwp.gov.uk/webapi/openinfopage?id=SMI_CUM" class="govuk-link">number who have received SMI loans so far

See the background information and methodology note for an explanation of households.

The statistics are broken down by:

• Quarter
• Country, Region
• Qualifying Benefit

Background information

Read the background information and methodology note for guidance on these statistics, such as timeliness and interpretation.

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We welcome all feedback on the content, relevance, accessibility and timing of these statistics to help us in producing statistics that meet user needs. For non-media enquiries on these statistics email: nathan.kelly@dwp.gov.uk

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Next releases

Support for Mortgage Interest statistics are published quarterly. The dates for future releases are listed in the statistics release calendar.

Pre-release access

In addition to staff who are responsible for the production and quality assurance of the statistics, up to 24-hour pre-release access is provided to ministers and other officials. We publish the job titles and organisations of the people who have been granted up to 24-hour pre-release access to the latest Support for Mortgage Interest statistics.

Mortgages made up most of the outstanding lending provided to households in the United Kingdom (UK) in May 2025. While loans excluding overdraft amounted to 68.6 billion British pounds that month, the value of mortgages reached nearly 1.5 trillion British pounds.

Detached houses had the highest share of mortgages among new properties in the United Kingdom (UK) in 2024. They constituted about **** percent of homes with mortgages that year. Bungalows had the lowest share of about *** percent of the dwellings with mortgages in the same year.

Between 2006 and 2025, year-on-year change consumer loans in the United Kingdom (UK) fluctuated more than mortgage lending. After a very sharp fall in mid to late 2020 and early 2021, the value of consumer credit began to increase again, reaching a positive annual growth rate of *** percent in April 2025. Meanwhile, the year-on-year change of mortgages kept growing in 2024 from **** percent in January 2024 to *** percent in April 2025.

70% of White British households owned their own homes – the highest percentage out of all ethnic groups.

Key information about United Kingdom Household Debt: % of GDP

• United Kingdom household debt accounted for 81.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 81.8 % in the previous quarter.
• UK household debt to GDP ratio is updated quarterly, available from Mar 1987 to Sep 2024.
• The data reached an all-time high of 108.5 % in Mar 2010 and a record low of 55.6 % in Mar 1987.

• In the latest reports, UK Household Debt reached 3,076.4 USD bn in Sep 2024.
• Money Supply M2 in UK increased 2.2 % YoY in Dec 2024.
• UK Foreign Exchange Reserves was measured at 112.5 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Oct 2024.
• UK Domestic Credit reached 4,866.2 USD bn in Dec 2024, representing an drop of 1.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year.

Housing affordability in the UK has worsened notably since 2020, with the share of income spent on mortgage payments rising for first-time and repeat buyers. In 2024, homebuyers spent, on average, 20.5 percent of their income on mortgage payments, up from 16.2 percent in 2020. First-time buyers spent a notably higher percentage than repeat buyers. One of the main factors for the declining affordability is the rising housing costs. House prices have increased rapidly since the COVID-19 pandemic. Mortgage rates have also soared since, leading to notably higher monthly payments.

The relative exposure of local authorities across England and Wales to increasing mortgage repayments and increasing private rent costs in 2023.

Mortgage repayments as a percentage of monthly equivalised disposable household income, throughout the house price and income distribution.

United Kingdom Lending Rate: Outs: Households: Mortgages (MG) data was reported at 3.850 % pa in Mar 2025. This records a decrease from the previous number of 3.870 % pa for Feb 2025. United Kingdom Lending Rate: Outs: Households: Mortgages (MG) data is updated monthly, averaging 3.500 % pa from Jan 1999 (Median) to Mar 2025, with 315 observations. The data reached an all-time high of 7.410 % pa in Jan 1999 and a record low of 2.010 % pa in Jan 2022. United Kingdom Lending Rate: Outs: Households: Mortgages (MG) data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.M002: Lending Rate: Outstanding. [COVID-19-IMPACT]

Average weekly household expenditure on goods and services in the UK. Data are shown by region, age, income (including equivalised) group (deciles and quintiles), economic status, socio-economic class, housing tenure, output area classification, urban and rural areas (Great Britain only), place of purchase and household composition.

Mortgage rates increased at a record pace in 2022, with the 10-year fixed mortgage rate doubling between March 2022 and December 2022. With inflation increasing, the Bank of England introduced several bank rate hikes, resulting in higher mortgage rates. In May 2025, the average 10-year fixed rate interest rate reached **** percent. As borrowing costs get higher, demand for housing is expected to decrease, leading to declining market sentiment and slower house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold declined in 2023, reaching just above *** million. Despite the number of transactions falling, this figure was higher than the period before the COVID-19 pandemic. The falling transaction volume also impacted mortgage borrowing. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans fell year-on-year for five straight quarters in a row. How are higher mortgages affecting homebuyers? Homeowners with a mortgage loan usually lock in a fixed rate deal for two to ten years, meaning that after this period runs out, they need to renegotiate the terms of the loan. Many of the mortgages outstanding were taken out during the period of record-low mortgage rates and have since faced notable increases in their monthly repayment. About **** million homeowners are projected to see their deal expire by the end of 2026. About *** million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026.

This statistic displays the average household amount outstanding on mortgages from 2006 to 2019 in the United Kingdom (UK). As displayed, the average outstanding amount went from ******* British pounds per household to ******* British pounds. Overall the graph shows a steady increase in the amount owed per household on average.

United Kingdom Lending Rate: Outs: NB: Households: Mortgages (MG) data was reported at 2.100 % pa in Oct 2018. This records a decrease from the previous number of 2.110 % pa for Sep 2018. United Kingdom Lending Rate: Outs: NB: Households: Mortgages (MG) data is updated monthly, averaging 4.230 % pa from Jan 1999 (Median) to Oct 2018, with 238 observations. The data reached an all-time high of 6.090 % pa in Sep 2008 and a record low of 1.920 % pa in Oct 2017. United Kingdom Lending Rate: Outs: NB: Households: Mortgages (MG) data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.M002: Lending Rate: Outstanding.

About 1.4 million households with mortgages up for renewal in the United Kingdom (UK) will face increasing monthly costs by the end of 2024 because of the aggressive mortgage interest hikes since the beginning of 2022. For about one million of these households, the increase will be between one British pound and 300 British pounds, while for 388,000 households, the increase will be higher. By December 2026, the number of households with rising mortgage payments is projected at 3.9 million. Meanwhile, about two million mortgage borrowers are expected to benefit from reduced mortgage payments by the end of 2026.

United Kingdom Lending Rate: Outs: Households: Personal Loan (PL) data was reported at 8.240 % pa in Mar 2025. This records a decrease from the previous number of 8.290 % pa for Feb 2025. United Kingdom Lending Rate: Outs: Households: Personal Loan (PL) data is updated monthly, averaging 7.590 % pa from Jan 1999 (Median) to Mar 2025, with 315 observations. The data reached an all-time high of 12.190 % pa in Jan 1999 and a record low of 5.410 % pa in Apr 2021. United Kingdom Lending Rate: Outs: Households: Personal Loan (PL) data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.M002: Lending Rate: Outstanding. [COVID-19-IMPACT]

Households Debt in the United Kingdom decreased to 76.30 percent of GDP in the fourth quarter of 2024 from 77.20 percent of GDP in the third quarter of 2024. This dataset provides - United Kingdom Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the 2 years to March 2023, White British households spent 28% of their weekly income on rent payments on average – the lowest percentage out of all ethnic groups.