UK Mortgage Lending Falls to 6-Month Low

2026-06-02 09:05 By Agna Gabriel 1 min. read

Net borrowing of mortgage debt by UK individuals decreased to £4.4 billion in April 2026, the lowest in six months, from £6.8 billion in March and below the previous 6-month average of £5.1 billion.

The annual growth rate for net mortgage lending increased slightly to 3.3% in April, from 3.0% in March.

Secured gross lending decreased slightly to £27.5 billion in April, from £28.7 billion in March, still slightly above the 6-month average of £24.8 billion.

Repayments increased in April to £22.7 billion, from £19.8 billion in March, above the 6-month average of £19.7 billion.

The ‘effective’ interest rate on newly drawn mortgages increased, to 4.08% in April, from 4.03% in March.

The rate on the outstanding stock of mortgages was 3.92% in April, down from 3.93% in March.



News Stream
UK Mortgage Lending Below Expectations
Net borrowing of mortgage debt by UK individuals decreased to £3.9 billion in September, from £4.2 billion in August, below the previous 6-month average of £4.9 billion and market expectations of £4.2 billion. The annual growth rate for net mortgage lending decreased to 3.4% in September, from 3.6% in August. Secured gross lending increased slightly to £24.2 billion in September, up from £23.7 billion in August, still below the 6-month average of £26.3 billion. Repayments increased slightly in September to £21.4 billion, from £20.2 billion, slightly above the 6-month average of £21.3 billion. Meanwhile, the ‘effective’ interest rate on newly drawn mortgages increased to 4.63% in September, from 4.60% in August, while the rate on the outstanding stock of mortgages was 4.03% in September, up from 4.00% in August.
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