Interest Rate on Outstanding Mortgages in the United Kingdom increased to 3.87 percent in May from 3.86 percent in April of 2025. This dataset includes a chart with historical data for the United Kingdom Interest Rate on Outstanding Mortgages.

The United Kingdom, Germany, and France were the countries with the largest mortgage markets in Europe in 2024, when considering the value of loans outstanding. In the fourth quarter of the year, the UK had nearly *** billion euros worth of mortgages outstanding. Other countries with large mortgage markets included the Netherlands, Spain, Sweden, and Italy - all exceeding *** billion euros. One of the main drivers of mortgage activity is the cost of borrowing. In 2022, interest rates increased dramatically across Europe. Ireland, and Germany remained among the few countries with an average interest rate under four percent.

As of October 2024, mortgages made up most of the lending to households in the United Kingdom. The amounts secured on dwellings (i.e. mortgages) reached a value of over 1.6 trillion British pounds. Meanwhile, the outstanding consumer credit amounted to 233 billion British pounds in the same period.

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.

This website provides interactive mapping of outstanding residential mortgage lending by postcode sector across Great Britain, as published by individual banks, via the Council of Mortgage Lenders. This first iteration of the website - published in January 2014 - uses the most recent bank lending data, which covers the period up to the end of June 2013. I hope to update the website with future data releases, if I have the time. The map is coloured so that there are roughly the same number of areas in each category displayed in the key to the right. It's important to remember that this data release covers only seven major lenders and about three quarters of the mortgage market - it is not the full story but it does give us interesting insights that were previously not possible. The release did not include mortgage lending data for Northern Ireland, so that's why it's not included here. I've included a large interactive map on the home page and if you click below that you can see a full screen map. I've also added in some tabs which show postcode sectors in and around London, Glasgow, Manchester and Cardiff but if you want to find somewhere else you can easily pan and zoom to it via the big map.

Lloyds Banking Group, Nationwide BS, and NatWest were the mortgage lenders with the highest value of mortgages outstanding in 2023. Lloyds Banking Group had roughly 100 billion British pounds more than Nationwide BS outstanding in mortgage lending. That year, the UK had *** banks which had exceeded *********** billion British pounds each outstanding in mortgage loans.

Mortgage Approvals in the United Kingdom increased to 63.03 Thousand in May from 60.66 Thousand in April of 2025. This dataset provides the latest reported value for - United Kingdom Mortgage Approvals - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Consumer lending, excluding student loans, in the United Kingdom (UK) reached nearly 33.51 billion British pounds in March 2025. These figures have thus recovered from the stark decline suffered in April 2020. The value of new consumer credit granted also decreased during the economic crisis of 2007, although more gradually. The category consumer lending includes loans and advances to individuals through credit cards and personal loans. The majority of consumer credit is through credit card lending. Mortgage lending The value of outstanding mortgage lending in the UK is far higher than that of consumer credit. Additionally, the outstanding volume of consumer credit has fluctuated more in the past, while mortgages have had a more consistent growth. In the second quarter of 2024, the value of gross new mortgage lending in the UK amounted to over 60 billion British pounds. Credit card payments With billions of British pounds in gross consumer lending through credit cards, it’s unsurprising that the number of credit cards in circulation in 2022 was nearly as high as the number of people in the UK. The number of credit cards peaked in 2005, and it slightly decreased in the following months. However, there were still nearly 56 million credit cards in issue in the UK in 2023. The average amount spent per purchase on credit cards in the UK was roughly 59 British pounds in November 2024. This figure is much lower than the spending limit of most credit cards.

Building societies, unlike banks, are not listed on the stock market and thus, don't have external shareholders. Instead, the shareholders and decision makers of building societies are the investing members. Building societies offer many traditional banking products and financial services such as mortgage lending, savings, and current accounts. In September 2022, the value of mortgages outstanding by building societies amounted to approximately 367 billion British pounds.

Mortgage lending by building societies in the United Kingdom (UK)

After a year of lower lending activity due to the coronavirus (COVID-19) crisis, in March 2021, the monthly value of residential mortgage lending by building societies in the UK reached record high levels. The fluctuation in lending can also be seen in the number of mortgage loan approvals.

Mortgage lending in the UK

The UK is one of the biggest residential mortgage markets in Europe, worth almost 1.7 trillion euros. Building societies rank among the largest mortgage lenders by market share together with the leading UK banks. In 2019, the largest building society and second largest lender in the UK was Nationwide BS.

This dataset contains two sheets showing: * The number of regulated mortgages outstanding as at end 2022 in the UK by region/country, broken down by interest rate type (for example fixed rate, Standard Variable Rate etc) * The number regulated fixed rate mortgages outstanding as at end 2022 in the UK by region/country, broken down by the month in which the fixed rate ('incentive rate') ends The data was provided to the GLA by the FCA, and the source is FCA Mortgages Performance Product Sales Data (PSD007).

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.

Value of outstanding residential mortgage lending by postcode sector for 9,273 Great Britain postcode sectors.

Areas with a small number of loans cannot be reported because it might compromise individuals' data privacy.

These figures form part of a joint data reporting exercise, covering lending to small and medium enterprises (SMEs), residential mortgages and personal loans, coordinated by the British Bankers' Association (BBA) and the Council of Mortgage Lenders (CML).

Data covering lending to SMEs and personal loans is published by the BBA.

Participating lenders comprise: Barclays Bank, Clydesdale Bank & Yorkshire Bank, HSBC Bank, Lloyds Banking Group, Nationwide Building Society, Santander UK and RBS. Collectively these institutions account for about 60 per cent of bank lending to SMEs, 73 per cent of mortgage lending and 60 per cent of unsecured personal loan markets in Great Britain.

More information from CML website.

Mortgage interest rates in the UK were on a downward trend for more than a decade before soaring in 2022. In the fourth quarter of 2024, the average weighted interest rate stood at **** percent — nearly ***** times the interest rate in the fourth quarter of 2021. 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 nearly ***billion euros in gross residential mortgage lending as of the second quarter of 2023. When comparing the total outstanding residential mortgage lending, the UK also ranks first with about *** trillion euros.

Home Loans in the United Kingdom increased to 2054 GBP Million in May from -776 GBP Million in April of 2025. This dataset provides - United Kingdom Mortgage Lending- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The total outstanding residential mortgage lending in Belgium steadily increased between 2016 and 2024. In this period, the value of outstanding residential mortgage lending grew from *** billion euros to over *** billion euros. Since 2016, the quarterly gross residential mortgage lending in Belgium has fluctuated markedly. Belgium has a well-developed mortgage market. Nevertheless, it ranks below countries such as the UK, Germany, France, and the Netherlands in terms of outstanding mortgage lending.

The total amount of outstanding residential mortgage lending in France increased from *** billion euros in 2018 to almost *** trillion euros in 2024. In the fourth quarter of 2024, France was one of three European countries that exceeded one trillion in outstanding residential mortgage lending, besides the United Kingdom and Germany.

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.

The value of residential mortgage lending decreased across many European countries in the first quarter of 2024. In the UK, new lending declined from about 66.8 billion euros to 59 billion euros between the first quarters of 2023 and 2024. One of the main reasons was the worsening economic conditions and rising interest rates. Together with France and Germany, the UK make up the top three biggest markets, both in terms of gross mortgage lending and outstanding mortgage lending.

The total amount of outstanding residential mortgage lending in Portugal generally decreased between 2014 and 2019, followed by an increase until 2022 and another in 2024. As of the third quarter of 2024, the total outstanding residential mortgage lending in Portugal stood at ***** billion euros. A total of three European countries exceeded *** trillion in outstanding residential mortgage lending - the United Kingdom, Germany, and France.