Mortgage rates surged at an unprecedented pace in 2022, with the average 10-year fixed rate doubling between March and December of that year. In response to mounting inflation, the Bank of England implemented a series of rate hikes, pushing borrowing costs steadily higher. By October 2025, the average 10-year fixed mortgage rate stood at **** percent. As financing becomes more expensive, housing demand has cooled, weighing on market sentiment and slowing house price growth. How have the mortgage hikes affected the market? After surging in 2021, the number of residential properties sold fell significantly in 2023, dipping to just above *** million transactions. This contraction in activity also dampened mortgage lending. Between the first quarter of 2023 and the first quarter of 2024, the value of new mortgage loans declined year-on-year for five consecutive quarters. Even as rates eased modestly in 2024 and housing activity picked up slightly, volumes remained well below the highs recorded in 2021. How are higher mortgages impacting homebuyers? For homeowners, the impact is being felt most acutely as fixed-rate deals expire. Mortgage terms in the UK typically range from two to ten years, and many borrowers who locked in historically low rates are now facing significantly higher repayments when refinancing. By the end of 2026, an estimated five million homeowners will see their mortgage deals expire. Roughly two million of these loans are projected to experience a monthly payment increase of up to *** British pounds by 2026, putting additional pressure on household budgets and constraining affordability across the market.

Mortgage interest rates in the UK were on a downward trend for more than a decade before soaring in 2022. In the first quarter of 2025, the average weighted interest rate stood at **** percent — nearly ***** times the interest rate in the first quarter of 2022. Mortgage rates also vary depending on the type of mortgage: Historically, fixed rate mortgages with a shorter term had on average lower interest rates. What types of mortgages are there? In terms of the type of interest rate, mortgages can be fixed and variable. A fixed interest rate is simply a mortgage where the rate of repayment is fixed, while a variable rate depends on the lender’s underlying variable interest rate. Furthermore, mortgages could be for a house purchase or for refinancing. The vast majority of mortgages in the UK are fixed rate mortgages for house purchase, and only a small share is for remortgaging. How big is the UK mortgage market? The UK has the largest mortgage market in Europe, amounting to over ** billion euros in gross residential mortgage lending as of the fourth quarter of 2024. When comparing the total outstanding residential mortgage lending, the UK also ranks first with about *** trillion euros.

Interest rates in the UK spiked in 2022 and 2023, with the average rate for new mortgage advances to individuals and individual trusts rising by **** percentage points between January 2022 and January 2024. Mortgages on a floating interest rate were the most expensive as of January 2024, at **** percent. On the other hand, the average rate for new advances with a five-year fixed rate was **** percent.

Compare UK interest rates and mortgage rates alongside house prices. Interactive charts showing the Bank of England base rate versus 2-year, 5-year, and SVR mortgage rates, with historical HPI trends.

Mortgage Rate in the United Kingdom remained unchanged at 6.78 percent in October. This dataset provides - United Kingdom BBA Mortgage Rate- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Summary of UK House Price Index (HPI) price statistics covering England, Scotland, Wales and Northern Ireland. Full UK HPI data are available on GOV.UK.

Mortgage rates in the United Kingdom (UK) have risen dramatically since the beginning of 2022, causing concerns about households with loans up for renewal facing notable increases in costs. That is the case for 1.4 million fixed rate mortgages up for renewal in 2023. This type of mortgage is a popular choice among homebuyers because it allows them to lock in the interest rate for a specific period. After the period runs out, homebuyers need to renegotiate the loan or switch to a variable interest rate. The vast majority of loans up for renewal until 2024 have an initial effective mortgage rate of less than 2.5 percent - significantly lower than the current mortgage rates.

Dataset of UK mortgage products with 2-year fixed terms, including initial rates, APRC, fees, and LTV percentages.

UK Mortgage Rates

Mortgage products in the united kingdom

By Jeff [source]

About this dataset

This dataset contains information on thousands of mortgage products available in the UK, including the interest rate, APR, revert rate, fees, and initial rate period. This data can be used to compare different mortgage products and find the best deal for your needs

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How to use the dataset

This dataset contains information on thousands of mortgage products available in the UK, including the interest rate, APR, revert rate, fees, and initial rate period.

To use this dataset, simply download it and then import it into your favorite spreadsheet program. You can then use the data to compare mortgage rates across different products and banks.

This dataset can be used to help you: - Compare mortgage rates from different banks - Find the best mortgage product for your needs - Understand how fees and other charges affect the overall cost of a mortgage

Research Ideas

• Analysing the different mortgage products available on the market
• Benchmarking against other products in order to get a competitive rate
• Finding products that have low fees and revert rates

Acknowledgements

If you use this dataset in your research, please credit the original authors. Data Source

License

See the dataset description for more information.

Columns

File: UK_Mortgage_Rate.csv | Column name | Description | |:----------------------------|:----------------------------------------------------------------| | SKU | The product's SKU. (String) | | BANK_NAME | The name of the bank that offers the mortgage product. (String) | | MTG_PRODUCT_SUBTITLE | The subtitle of the mortgage product. (String) | | MTG_PRODUCT_TYPE_RAW | The raw product type of the mortgage product. (String) | | MTG_PRODUCT_YEARS | The number of years of the mortgage product. (Integer) | | MTG_INITIAL_RATE_PCT | The initial rate percentage of the mortgage product. (Float) | | MTG_APR_PCT | The APR percentage of the mortgage product. (Float) | | MTG_REVERT_RATE | The revert rate of the mortgage product. (Float) | | MTG_FEES_TOTAL | The total fees of the mortgage product. (Float) | | MTG_INITIAL_RATE_MONTHS | The initial rate months of the mortgage product. (Integer) | | SCAN_DATE | The date that the mortgage product was scanned. (Date) |

Acknowledgements

If you use this dataset in your research, please credit the original authors. If you use this dataset in your research, please credit Jeff.

Annual house price data based on a sub-sample of the Regulated Mortgage Survey.

Median price paid for residential property in England and Wales, by property type and administrative geographies. Annual data.

Comprehensive database of HMO mortgage rates from specialist lenders across the UK

Mortgage interest rates in Europe soared in 2022 and remained elevated in the following two years. In many countries, this resulted in mortgage interest rates across the region more than doubling. In the first quarter of 2025, the average mortgage interest rate in the UK stood at **** percent. Spain had the lowest rate, at **** percent, while Poland had the highest, at *** percent. Why did mortgage interest rates increase? Mortgage rates have risen as a result of the European Central Bank (ECB) interest rate increase. The ECB increased its interest rates to tackle inflation. As inflation calms, the ECB is expected to cut rates, which allows mortgage lenders to reduce mortgage interest rates. What is the impact of interest rates on home buying? Lower interest rates make taking out a housing loan more affordable, and thus, encourage home buying. That can be seen in many countries across Europe: In France, the number of residential properties sold rose in the years leading up to 2021, and fell as interest rates increased. The number of houses sold in the UK followed a similar trend.

Housing Index in the United Kingdom increased to 517.10 points in October from 514.20 points in September of 2025. This dataset provides - United Kingdom House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

UK house prices since 1953 as monthly time-series. Data comes from the Nationwide.

Data can be found in the data/data.csv file. See datapackage.json for source info.

Source: http://www.nationwide....

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.

The average mortgage interest rate decreased in nearly every country in Europe between 2012 and 2021, followed by an increase in response to inflation. In the first quarter of 2025, Poland, Hungary, and Romania topped the ranking as the countries with the highest mortgage interest rates in Europe. Conversely, Finland, Belgium, and Spain displayed the lowest interest rates. The UK, which is the country with the largest value of mortgages outstanding, had an interest rate of **** percent.

Affordability ratios calculated by dividing house prices by gross annual residence-based earnings. Based on the median and lower quartiles of both house prices and earnings in England and Wales.

The BBA Mortgage Rate in the UK refers to the average interest rate on mortgages offered by major banks, as reported by the British Bankers' Association.-2025-12-05