FX.co ★ UK Mortgage Lending Falls More than Expected

In April 2025, the net borrowing of mortgage debt by individuals in the UK saw a significant reduction of £13.7 billion, settling at -£0.8 billion. This figure surpassed market predictions, which had anticipated a decrease to -£0.5 billion. This instance marked the first decline since January 2024, contrasting with the £9.7 billion increase that elevated net borrowing to £13.0 billion in March. Consequently, the annual growth rate for net mortgage lending dipped to 2.5% in April from 2.7% the previous month. Additionally, gross lending experienced a substantial drop to £16.9 billion in April, down from £39.9 billion in March—the most considerable decrease since June 2021, which saw a £42.4 billion decline. Similarly, gross repayments fell in April, decreasing to £18.4 billion from £23.7 billion.