GITNUX MARKETDATA REPORT 2024
UK Mortgage Industry Statistics
The UK mortgage industry statistics show a steady increase in both the number of mortgage approvals and the amount borrowed, reflecting a growing demand for residential property.
In the following post, we present key statistics on the UK mortgage industry, shedding light on trends such as mortgage approvals, average house prices, mortgage loan sizes, broker usage, loan-to-value ratios, and the impact of the coronavirus pandemic. Stay tuned to gain insights into the dynamic landscape of mortgages in the UK.
Statistic 1
"Mortgage approvals in the UK reached a 13-year high in August 2020 with 84,700 approved mortgages."
Statistic 2
"The average house price in the UK rose by 10.2% in the year to March 2021."
Statistic 3
"As of Q3 2021, London had the highest average mortgage loan size in the UK, at £222,593."
Statistic 4
"Intermediaries accounted for 85% of all UK mortgages in 2021."
Statistic 5
"In 2021, 21% of Brits used a mortgage broker to secure a home loan."
Statistic 6
"An average UK resident spends 31.5% of their income servicing a mortgage."
Statistic 7
"For first-time buyers in London (2021), the average mortgage loan was for 61.3% of the property’s purchase price."
Statistic 8
"As of 2021, the typical loan-to-value ratio was 70% for all outstanding mortgage balances in the UK."
Statistic 9
"In 2020, the coronavirus pandemic saw a 90% reduction in 95% LTV mortgage products."
Statistic 10
"Online impressions for mortgage-related searches in the UK grew by 29% between 2019 and 2020."
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