Net mortgage borrowing by UK individuals fell to £4.4 billion in April 2026, the lowest level in six months, down from £6.8 billion in March and below the recent six‑month average of £5.1 billion. Despite this, the annual growth rate of net mortgage lending edged up to 3.3% in April, from 3.0% in March.
Secured gross lending eased slightly to £27.5 billion in April, from £28.7 billion in March, though it remained above the six‑month average of £24.8 billion. Repayments rose to £22.7 billion in April, compared with £19.8 billion in March, also exceeding the six‑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. By contrast, the rate on the outstanding stock of mortgages edged down to 3.92% in April, from 3.93% in March.
