The median loan-to-value ratio in the United Kingdom (UK) for sales made in the fourth quarter of 2023 was approximately **** percent. This meant that the average mortgage covered **** percent of the property sales price, leaving the home acquirer to cover the remaining **** percent with their own savings. Regionally, it was North East where the highest average LTV ratio was seen, at ** percent. Number of mortgage loans In 2023, the number of mortgage sales (PSD) stood at just over *******, which was a decrease from the previous year when the number of mortgage sales dropped significantly. Mortgage interest rates The vast majority of mortgage loans were taken out with fixed interest rates. A fixed interest rate is simply a mortgage where the rate of repayment is fixed. The Financial Conduct Authority (FCA) defines a standard variable rate as "the rate that is the lender’s underlying variable interest rate”. It is not surprising that fixed interest rates are the preferred option for so many borrowers - two, three, five and ten year fixed interest rates saw a continuous decrease in recent years, before surging in 2022.

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

These quarterly experimental statistics include number of households who are currently in receipt of the support as well as the 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.

Interactive statistics

Find further breakdowns of these statistics on https://stat-xplore.dwp.gov.uk/webapi/jsf/login.xhtml">Stat-Xplore, an online tool for exploring some of Department for Work and Pensions (DWP’s) main statistics.

Feedback

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: laura.parkhurst@dwp.gov.uk

For media enquiries please contact the DWP press office.

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.

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.

This statistic displays the monthly average value of home purchasing loans in the United Kingdom (UK) from ************** to *********. it can be seen that the monthly average borrowed by those needing a loan for a house purchase increased from 1997 to the financial crisis of 2008. Since then the average value of a loan for house purchasing has once again seen an overall increase with a value of ***** thousand British pounds as of *********.

United Kingdom Mortgage Loans: Quarterly: Advance: Total data was reported at 71,070.000 GBP mn in Sep 2018. This records an increase from the previous number of 65,516.000 GBP mn for Jun 2018. United Kingdom Mortgage Loans: Quarterly: Advance: Total data is updated quarterly, averaging 17,292.000 GBP mn from Dec 1974 (Median) to Sep 2018, with 176 observations. The data reached an all-time high of 97,397.000 GBP mn in Sep 2007 and a record low of 1,000.000 GBP mn in Mar 1975. United Kingdom Mortgage Loans: Quarterly: Advance: Total data remains active status in CEIC and is reported by UK Finance. The data is categorized under Global Database’s United Kingdom – Table UK.KB024: Mortgage Loans by Advance: Council of Mortgage Lenders.

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.

The number of mortgage cases received and disposed in the High Court. Datasets are produced on an annual year basis. The dataset is entered onto ICOS, the Integrated Courts Operations System. The data are then extracted and merged with the Central Postcode Directory, and aggregated information uploaded to this portal. Northern Ireland Courts and Tribunals Service collects information on writs and originating summonses issued in respect of mortgages in Chancery Division of the Northern Ireland High Court. This covers both Northern Ireland Housing Executive and private mortgages, and relates to both domestic and commercial properties. A mortgage case may involve more than one address or a land property. In such cases, the first postcode address entered onto ICOS is used. Not all writs and originating summonses lead to eviction. A plaintiff begins an action for an order for possession of property. The court, following a judicial hearing, may grant an order for possession. This entitles the plaintiff to apply for an order to have the defendant evicted. However, even where an order for eviction is issued the parties can still negotiate a compromise to prevent eviction. Users of this data may have been able to self-identify themselves due to the low values in some cells. Primary and secondary disclosure control methods have been applied to this data, denoted by cells with missing data in the tables. Values of less than four participants, but not zero participants, were initially suppressed, but some of these values could have been calculated using some row and column totals and thus secondary suppression was applied to the next lowest value in the row and column. The data contain the number of cases received and the number of cases disposed by each Assembly Area and have the following proportions of postcode coverage: 2010, 97.9%, 2011, 97.3%; 2012, 97.2%; 2013, 95.9%; 2014, 96.0%; 2015, 94.5%; 2016, 95.4%; 2017, 95.2%; 2018, 94.5%; 2019, 95.5%; 2020, 96.7%; 2021, 95.7%; 2022, 95.6%; 2023, 95.2%, 2024, 95.8%.

The FCA and the Prudential Regulatory Authority (PRA) both have responsibility for the regulation of mortgage lenders and administrators. They jointly publish the mortgage lending statistics every quarter. Since the beginning of 2007, around 340 regulated mortgage lenders and administrators have been required to submit a Mortgage Lending and Administration Return (MLAR) each quarter, providing data on their mortgage lending activities. Latest findings The outstanding value of all residential mortgages loans was £1,499 billion at end-2019 Q4, 3.8% higher than a year earlier. The value of gross mortgage advances was £73.4 billion, broadly unchanged in comparison to 2018 Q4. The value of new mortgage commitments (lending agreed to be advanced in the coming months) was 4.0% higher than a year earlier, at £70.6 billion.

The number of final orders made against mortgage cases disposed in the High Court. Datasets are produced on an annual year basis. The dataset is entered onto ICOS, the Integrated Courts Operations System. The data are then extracted and merged with the Central Postcode Directory, and aggregated information uploaded to this portal. Northern Ireland Courts and Tribunals Service collects information on writs and originating summonses issued in respect of mortgages in Chancery Division of the Northern Ireland High Court. This covers both Northern Ireland Housing Executive and private mortgages, and relates to both domestic and commercial properties. A mortgage case may involve more than one address or a land property. In such cases, the first postcode address entered onto ICOS is used. Not all writs and originating summonses lead to eviction. A plaintiff begins an action for an order for possession of property. The court, following a judicial hearing, may grant an order for possession. This entitles the plaintiff to apply for an order to have the defendant evicted. However, even where an order for eviction is issued the parties can still negotiate a compromise to prevent eviction. When a case is disposed of, it may have more than one final order made. This database contains the last final order made. A description of the orders is below: Possession: The court orders the defendant to deliver possession of the property to the plaintiff within a specified time. If the defendant fails to comply with the court order the plaintiff may proceed to apply to the Enforcement of Judgements Office to repossess the property and give possession of it to the plaintiff. Sale and Possession: If the plaintiff seeks possession of property which is subject to an ‘equitable mortgage’ (i.e. normally one created informally by the deposit of deeds rather than the execution of a mortgage deed) the court may order a sale of the property to enable enforcement of the equitable mortgage and that the defendant give up possession for that purpose. The sale price is subject to approval by the court. Suspended Possession: The court may postpone the date for delivery of possession if it is satisfied that the defendant is likely to be able, within a reasonable period, to pay any sums due under the mortgage, or to remedy any other breach of the obligations under the mortgage. A suspended possession order cannot be enforced by the plaintiff without the permission of the court, which will only be granted after a further hearing. Other: other orders include strike out, dismiss action, and other less common orders. Strike out: This occurs when the moving party does not wish to proceed any further, or when the court rules that there is no reasonable ground for bringing or defending the mortgage action. Dismiss action: The mortgage action is dismissed by the courts. Other orders: These include: (a) Declaration of possession coupled with an order for sale in lieu of partition and (b) Stay of Eviction - after a Possession Order is granted but prior to actual repossession, the Defendant may apply to Court to seek a stay of eviction which, if granted, prevents repossession for a certain defined period. Users of this data may have been able to self-identify themselves due to the low values in some cells. Primary and secondary disclosure control methods have been applied to this data, denoted by cells with missing data in the tables. Values of less than four, but not zero, were initially suppressed, but some of these values could have been calculated using some row and column totals and thus secondary suppression was applied to the next lowest value in the row and column. The data contain the number of final orders made against cases disposed by each Local Government District and have the following proportions of postcode coverage: 2012, 97.7%; 2013, 96.5%; 2014, 96.0%; 2015, 94.8%; 2016, 95.5%; 2017, 95.1%; 2018, 94.8%; 2019, 93.8%; 2020, 95.6%; 2021, 93.6%; 2022, 95.3%; 2023, 97.5%; 2024, 95.7%.

UK CPI - Excluding Mortgage Interest Rate - Historical chart and current data through 2018.

Graph and download economic data for Consumer Price Index: Retail price Index: All Items Less Mortgage Interest Rate for the United Kingdom (CPRPTT02GBM661N) from Jan 1975 to Feb 2018 about mortgage, United Kingdom, all items, retail, interest rate, CPI, interest, housing, price index, rate, indexes, and price.

United Kingdom Mortgage Loans: Quarterly: Advance: Remortgage data was reported at 21,800.000 GBP mn in Sep 2018. This records an increase from the previous number of 20,500.000 GBP mn for Jun 2018. United Kingdom Mortgage Loans: Quarterly: Advance: Remortgage data is updated quarterly, averaging 17,400.000 GBP mn from Mar 2002 (Median) to Sep 2018, with 67 observations. The data reached an all-time high of 34,200.000 GBP mn in Sep 2007 and a record low of 9,000.000 GBP mn in Mar 2013. United Kingdom Mortgage Loans: Quarterly: Advance: Remortgage data remains active status in CEIC and is reported by UK Finance. The data is categorized under Global Database’s United Kingdom – Table UK.KB024: Mortgage Loans by Advance: Council of Mortgage Lenders.

United Kingdom Mortgage Loans Repayment: MFIs data was reported at 16,736.000 GBP mn in Sep 2018. This records a decrease from the previous number of 18,280.000 GBP mn for Aug 2018. United Kingdom Mortgage Loans Repayment: MFIs data is updated monthly, averaging 12,456.500 GBP mn from Oct 1997 (Median) to Sep 2018, with 252 observations. The data reached an all-time high of 21,627.000 GBP mn in Oct 2007 and a record low of 3,412.000 GBP mn in Jan 1998. United Kingdom Mortgage Loans Repayment: MFIs 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.KB023: Mortgage Loans: Repayment.

The mortgage market has recovered well since the financial crisis, often producing double-digit growth each year. However, rising economic uncertainties will dampen the prospects for future growth over the coming years. During the forecast period (2018-22), gross advances are expected to record a compound annual growth rate (CAGR) of 4.2%, reaching £338bn by the end of the forecast period versus a historic five-year CAGR of 7.6% from 2013 to 2017. Read More

United Kingdom Mortgage Loans Approved: sa: Cases: HP: MFIs data was reported at 63,288.000 Unit in Oct 2018. This records an increase from the previous number of 62,550.000 Unit for Sep 2018. United Kingdom Mortgage Loans Approved: sa: Cases: HP: MFIs data is updated monthly, averaging 74,659.000 Unit from Apr 1993 (Median) to Oct 2018, with 307 observations. The data reached an all-time high of 117,923.000 Unit in Feb 2002 and a record low of 25,158.000 Unit in Nov 2008. United Kingdom Mortgage Loans Approved: sa: Cases: HP: MFIs 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.KB022: Mortgage Loans: Approved.

In 2020, an estimated **** million people used the mortgage services of Nationwide in Great Britain. That was an increase of roughly 100 thousand people from 2019. The second-ranking Halifax, in turn, had **** million users in 2020, while Santander ranked third.

The FCA and the Prudential Regulatory Authority (PRA) both have responsibility for the regulation of mortgage lenders and administrators. They jointly publish the mortgage lending statistics every quarter.

Since the beginning of 2007, around 340 regulated mortgage lenders and administrators have been required to submit a Mortgage Lending and Administration Return (MLAR) each quarter, providing data on their mortgage lending activities.

Latest findings

• The outstanding value of all residential mortgages loans was £1,499 billion at end-2019 Q4, 3.8% higher than a year earlier.
• The value of gross mortgage advances was £73.4 billion, broadly unchanged in comparison to 2018 Q4.
• The value of new mortgage commitments (lending agreed to be advanced in the coming months) was 4.0% higher than a year earlier, at £70.6 billion.

United Kingdom Mortgage Loans Repayment: OS: Other Lump Sum data was reported at 34.000 GBP mn in Oct 2018. This records an increase from the previous number of 30.000 GBP mn for Sep 2018. United Kingdom Mortgage Loans Repayment: OS: Other Lump Sum data is updated monthly, averaging 52.000 GBP mn from Jan 1999 (Median) to Oct 2018, with 238 observations. The data reached an all-time high of 202.000 GBP mn in Feb 2008 and a record low of 10.000 GBP mn in Feb 1999. United Kingdom Mortgage Loans Repayment: OS: Other Lump Sum 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.KB023: Mortgage Loans: Repayment.

This statistic illustrates the residential mortgages of the OneSavings Bank in the United Kingdom (UK) from 2013 to 2018. It can be seen that between 2013 and 2015 the residential mortgages for the OneSavings bank group increased by more than *** million British pounds, to a total of more than *********** British pounds in 2015. The residential mortgages for the group increased overall with some fluctuation during the period, reaching a total of approximately **** billion British pounds as of 2018.