United Kingdom Mortgage Loans Approved: Cases: Remortgaging data was reported at 48,912.000 Unit in Jun 2018. This records a decrease from the previous number of 52,906.000 Unit for May 2018. United Kingdom Mortgage Loans Approved: Cases: Remortgaging data is updated monthly, averaging 41,171.000 Unit from Oct 1997 (Median) to Jun 2018, with 249 observations. The data reached an all-time high of 132,739.000 Unit in Apr 2003 and a record low of 14,338.000 Unit in Nov 1997. United Kingdom Mortgage Loans Approved: Cases: Remortgaging data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s UK – Table UK.KB022: Mortgage Loans: Approved.

The global mortgage broker market is experiencing robust growth, driven by increasing demand for housing, particularly in rapidly developing economies, and the rising complexity of mortgage products. The market's size in 2025 is estimated at $150 billion, reflecting a significant expansion from previous years. This substantial growth is projected to continue at a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033, reaching an estimated $250 billion by 2033. Several factors contribute to this positive outlook. Firstly, the ongoing shift towards online mortgage applications and the rise of fintech companies offering streamlined services are making the process more accessible and efficient for consumers. Secondly, the increasing prevalence of remortgaging, driven by fluctuating interest rates and the desire for better mortgage terms, fuels demand for broker services. Finally, the diversification of mortgage products catering to various needs and financial situations further increases the reliance on mortgage brokers' expertise in navigating this complex landscape. However, market growth is not without challenges. Regulatory changes and increasing competition among mortgage brokers and lenders pose potential restraints. Furthermore, economic downturns can significantly impact the housing market and consequently, the demand for mortgage brokerage services. The market segmentation reveals strong growth in both the charge-based and free-based services, with the buy-to-let segment demonstrating particularly robust expansion. Geographical distribution shows North America and Europe currently dominating the market share, although growth in Asia-Pacific is projected to accelerate significantly over the forecast period, driven by burgeoning urbanization and rising disposable incomes. The success of key players like Mortgage Broker Melbourne, Associated Mortgage Group, and Habito underscores the importance of effective branding, technological adoption, and a robust client service model in securing a competitive edge.

The 10 largest mortgage lenders in the United Kingdom accounted for approximately 81 percent of the total market, with the top three alone accounting for 41 percent in 2023. Lloyds Banking Group had the largest market share of gross mortgage lending, with nearly 36.8 billion British pounds in lending in 2023. HSBC, which is the largest UK bank by total assets, ranked fourth. Development of the mortgage market In 2023, the value of outstanding in mortgage lending to individuals amounted to 1.6 trillion British pounds. Although this figure has continuously increased in the past, the UK mortgage market declined dramatically in 2023, registering the lowest value of mortgage lending since 2015. In 2020, the COVID-19 pandemic caused the market to contract for the first time since 2012. The next two years saw mortgage lending soar due to pent-up demand, but as interest rates soared, the housing market cooled, leading to a decrease in new loans of about 100 billion British pounds. The end of low interest rates In 2021, mortgage rates saw some of their lowest levels since recording began by the Bank of England. For a long time, this was particularly good news for first-time homebuyers and those remortgaging their property. Nevertheless, due to the rising inflation, mortgage rates started to rise in the second half of the year, resulting in the 10-year rate doubling in 2022.

United Kingdom Mortgage Loans Approved: Remortgaging data was reported at 8,996.000 GBP mn in Jun 2018. This records a decrease from the previous number of 9,301.000 GBP mn for May 2018. United Kingdom Mortgage Loans Approved: Remortgaging data is updated monthly, averaging 5,681.000 GBP mn from Oct 1997 (Median) to Jun 2018, with 249 observations. The data reached an all-time high of 15,459.000 GBP mn in Apr 2008 and a record low of 764.000 GBP mn in Nov 1997. United Kingdom Mortgage Loans Approved: Remortgaging data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s UK – Table UK.KB022: Mortgage Loans: Approved.

The global mortgage broker market is experiencing robust growth, driven by increasing demand for mortgages, particularly in emerging economies with burgeoning middle classes. The market size in 2025 is estimated at $25 billion, exhibiting a Compound Annual Growth Rate (CAGR) of 7% during the forecast period (2025-2033). This growth is fueled by several key factors, including the rising popularity of online mortgage platforms offering convenience and transparency, the increasing complexity of mortgage products requiring expert guidance, and the expanding use of technology to streamline the mortgage application process. Segment analysis reveals that the "charge" model dominates the market, reflecting the preference for brokers providing expert services for a fee, whereas the "Buy House" application segment commands the largest share due to higher transaction values and the need for comprehensive brokerage assistance. Regional analysis suggests North America and Europe remain leading markets, but significant growth potential lies within Asia-Pacific, particularly in rapidly developing countries like India and China. Despite the promising outlook, the market faces certain restraints. These include fluctuating interest rates that affect borrowing costs and market demand, stringent regulatory compliance requirements posing challenges for brokers, and intense competition from established banks and fintech companies offering direct mortgage products. The increasing adoption of artificial intelligence (AI) and machine learning (ML) in mortgage processing is likely to further transform the landscape, presenting both opportunities and challenges for traditional brokers. To maintain a competitive edge, mortgage brokers will need to adapt rapidly by embracing technological advancements, broadening their service offerings, and enhancing customer experience through personalized advice and digital tools. The overall market trend indicates a future marked by increased digitization, specialization, and customer-centric strategies within the mortgage broker sector.

The interest rate on newly issued 10-year Japanese Government Bonds (JGBs) in March 2025 was around 1.21 percent. This was the highest interest rate recorded since January 2020.

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 September 2023, the average 10-year fixed rate interest rate reached 5.1 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 2022, reaching close to 1.3 million. Despite the number of transactions falling, this figure was higher than the period before the COVID-10 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 fourth 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 five million homeowners are projected to see their deal expire by the end of 2026. About two million of these loans are projected to experience a monthly payment increase of up to 199 British pounds by 2026.

United Kingdom Credit Cond: SL: N3: HH: DL: Remortgage data was reported at 8.100 % Point in Jun 2018. This records a decrease from the previous number of 29.600 % Point for Mar 2018. United Kingdom Credit Cond: SL: N3: HH: DL: Remortgage data is updated quarterly, averaging 9.500 % Point from Jun 2007 (Median) to Jun 2018, with 45 observations. The data reached an all-time high of 31.200 % Point in Mar 2013 and a record low of -51.000 % Point in Mar 2009. United Kingdom Credit Cond: SL: N3: HH: DL: Remortgage data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s UK – Table UK.KB017: Credit Conditions Survey: Secured Lending: Next 3 Months.