FX.co ★ UK Mortgage Borrowing Rises in August

Net mortgage borrowing by UK individuals rose to £4.4 billion in August 2026, up from a revised £4.1 billion in July, though still below the six-month average of £5.2 billion. The annual growth rate of net mortgage lending was unchanged at 3.6%. Gross secured lending declined to £23.6 billion, from £25.3 billion in July and beneath the six-month average of £26.5 billion, while repayments eased to £20.4 billion from £21.1 billion. Meanwhile, the effective interest rate on newly drawn mortgages increased to 4.60% from 4.45%, and the rate on the outstanding stock of mortgages inched up to 4.00% from 3.97%.