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.

The table below showcases the 10th, 25th, 50th, 75th, and 90th percentiles of mortgage rates for each zip code in Laurel Hill, North Carolina. It's important to understand that mortgage rates can vary greatly and can change yearly.

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.

Scotland had the highest interest cover ratio for buy-to-let properties in the UK in the third quarter of 2024. The average interest cover ratio in Scotland amounted to *** percent, while in London, it was *** percent. This means that landlords in Scotland had a much higher monthly rental income to total interest expenses on their outstanding mortgage than in London.

India Foreign Banks: Term Loan Rate: At Least 60% Business: Low: The Royal Bank of Scotland data was reported at 6.700 % pa in Jun 2018. This records an increase from the previous number of 2.000 % pa for Sep 2017. India Foreign Banks: Term Loan Rate: At Least 60% Business: Low: The Royal Bank of Scotland data is updated quarterly, averaging 2.000 % pa from Sep 2010 (Median) to Jun 2018, with 30 observations. The data reached an all-time high of 10.000 % pa in Sep 2013 and a record low of 2.000 % pa in Sep 2017. India Foreign Banks: Term Loan Rate: At Least 60% Business: Low: The Royal Bank of Scotland data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Interest and Foreign Exchange Rates – Table IN.MB042: Lending Rate: Other than Export Credit: Term Loan Rate: At Least 60% Business: Low.

During the COVID-19 pandemic, the number of house sales in the UK spiked, followed by a period of decline. In 2023 and 2024, the housing market slowed notably, and in January 2025, transaction volumes fell to 46,774. House sales volumes are impacted by a number of factors, including mortgage rates, house prices, supply, demand, as well as the overall health of the market. The economic uncertainty and rising unemployment rates has also affected the homebuyer sentiment of Brits. How have UK house prices developed over the past 10 years? House prices in the UK have increased year-on-year since 2015, except for a brief period of decline in the second half of 2023 and the beginning of 2024. That is based on the 12-month percentage change of the UK house price index. At the peak of the housing boom in 2022, prices soared by nearly 14 percent. The decline that followed was mild, at under three percent. The cooling in the market was more pronounced in England and Wales, where the average house price declined in 2023. Conversely, growth in Scotland and Northern Ireland continued. What is the impact of mortgage rates on house sales? For a long period, mortgage rates were at record-low, allowing prospective homebuyers to take out a 10-year loan at a mortgage rate of less than three percent. In the last quarter of 2021, this period came to an end as the Bank of England rose the bank lending rate to contain the spike in inflation. Naturally, the higher borrowing costs affected consumer sentiment, urging many homebuyers to place their plans on hold and leading to a decline in sales.

India Foreign Banks: Term Loan Rate: High: The Royal Bank of Scotland data was reported at 10.500 % pa in Jun 2018. This records an increase from the previous number of 2.000 % pa for Sep 2017. India Foreign Banks: Term Loan Rate: High: The Royal Bank of Scotland data is updated quarterly, averaging 22.000 % pa from Sep 2010 (Median) to Jun 2018, with 30 observations. The data reached an all-time high of 36.000 % pa in Dec 2012 and a record low of 2.000 % pa in Sep 2017. India Foreign Banks: Term Loan Rate: High: The Royal Bank of Scotland data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Interest and Foreign Exchange Rates – Table IN.MB041: Lending Rate: Other than Export Credit: Term Loan Rate: High.

These National Statistics provide monthly estimates of the number of residential and non-residential property transactions in the UK and its constituent countries. National Statistics are accredited official statistics.

England and Northern Ireland statistics are based on information submitted to the HM Revenue and Customs (HMRC) Stamp Duty Land Tax (SDLT) database by taxpayers on SDLT returns.

Land and Buildings Transaction Tax (LBTT) replaced SDLT in Scotland from 1 April 2015 and this data is provided to HMRC by https://www.revenue.scot/">Revenue Scotland to continue the time series.

Land Transaction Tax (LTT) replaced SDLT in Wales from 1 April 2018. To continue the time series, the https://gov.wales/welsh-revenue-authority">Welsh Revenue Authority (WRA) have provided HMRC with a monthly data feed of LTT transactions since July 2021.

LTT figures for the latest month are estimated using a grossing factor based on data for the most recent and complete financial year. Until June 2021, LTT transactions for the latest month were estimated by HMRC based upon year on year growth in line with other UK nations.

LTT transactions up to the penultimate month are aligned with LTT statistics.

Go to Stamp Duty Land Tax guidance for the latest rates and information.

Go to Stamp Duty Land Tax rates from 1 December 2003 to 22 September 2022 and Stamp Duty: rates on land transfers before December 2003 for historic rates.

The latest release was published 09:30 28 November 2025 and was updated with provisional data from completed transactions during October 2025.

The next release will be published 09:30 09 January 2026 and will be updated with provisional data from completed transactions during November 2025.

https://webarchive.nationalarchives.gov.uk/ukgwa/20240320184933/https://www.gov.uk/government/statistics/monthly-property-transactions-completed-in-the-uk-with-value-40000-or-above">Archive versions of the Monthly property transactions completed in the UK with value of £40,000 or above are available via the UK Government Web Archive, from the National Archives.

India Foreign Banks: Cash Credit Rate: At Least 60% Business: High: The Royal Bank of Scotland data was reported at 14.000 % pa in Mar 2018. This stayed constant from the previous number of 14.000 % pa for Dec 2017. India Foreign Banks: Cash Credit Rate: At Least 60% Business: High: The Royal Bank of Scotland data is updated quarterly, averaging 14.500 % pa from Sep 2010 (Median) to Mar 2018, with 31 observations. The data reached an all-time high of 16.750 % pa in Dec 2010 and a record low of 10.700 % pa in Sep 2016. India Foreign Banks: Cash Credit Rate: At Least 60% Business: High: The Royal Bank of Scotland data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Interest and Foreign Exchange Rates – Table IN.MB035: Lending Rate: Other than Export Credit: Cash Credit Rate: At Least 60% Business: High.

India Foreign Banks: Pre Shipment: 181 to 270 Days: At Least 60% Business: High: The Royal Bank of Scotland data was reported at 8.250 % pa in Jun 2018. This records a decrease from the previous number of 12.000 % pa for Mar 2016. India Foreign Banks: Pre Shipment: 181 to 270 Days: At Least 60% Business: High: The Royal Bank of Scotland data is updated quarterly, averaging 10.000 % pa from Dec 2010 (Median) to Jun 2018, with 9 observations. The data reached an all-time high of 12.000 % pa in Mar 2016 and a record low of 8.250 % pa in Jun 2018. India Foreign Banks: Pre Shipment: 181 to 270 Days: At Least 60% Business: High: The Royal Bank of Scotland data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Interest and Foreign Exchange Rates – Table IN.MB017: Lending Rate: Export Credit: Pre Shipment: 181 to 270 Days: At Least 60% Business: High.

India Foreign Banks: Cash Credit Rate: Low: The Royal Bank of Scotland data was reported at 14.000 % pa in Mar 2018. This stayed constant from the previous number of 14.000 % pa for Dec 2017. India Foreign Banks: Cash Credit Rate: Low: The Royal Bank of Scotland data is updated quarterly, averaging 9.000 % pa from Sep 2010 (Median) to Mar 2018, with 28 observations. The data reached an all-time high of 15.000 % pa in Dec 2010 and a record low of 8.300 % pa in Jun 2016. India Foreign Banks: Cash Credit Rate: Low: The Royal Bank of Scotland data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Interest and Foreign Exchange Rates – Table IN.MB032: Lending Rate: Other than Export Credit: Cash Credit Rate: Low.

Foreign Banks: Term Loan Rate: Low: The Royal Bank of Scotland在2018-06达6.700 % 每年，相较于2017-09的2.000 % 每年有所增长。Foreign Banks: Term Loan Rate: Low: The Royal Bank of Scotland数据按季度更新，2010-09至2018-06期间平均值为2.000 % 每年，共30份观测结果。该数据的历史最高值出现于2013-09，达6.750 % 每年，而历史最低值则出现于2011-06，为0.010 % 每年。CEIC提供的Foreign Banks: Term Loan Rate: Low: The Royal Bank of Scotland数据处于定期更新的状态，数据来源于Reserve Bank of India，数据归类于India Premium Database的Interest and Foreign Exchange Rates – Table IN.MB040: Lending Rate: Other than Export Credit: Term Loan Rate: Low。