Number of UK fixed and variable rate mortgages 2024| ��ƽ��

Total number of fixed and variable rate mortgage sales in the United Kingdom (UK) from 1st quarter 2018 to 4th quarter 2024 (in 1,000s)

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Source

Release date

September 2025

More information

Region

United Kingdom

Survey time period

Q1 2018 to Q4 2024

Supplementary notes

Product sales data (PSD) is collected by the Financial Conduct Authority (FCA) and includes new sales (including remortgages); transfers, top-ups, alterations (such as mortgage switches with the same lender). It does not include data on transactions made through fund supermarkets and nominee accounts (such as those used in platforms) and, increments and renewals are generally not included according to the source. In the United Kingdom, all home finance providers are required to submit the mortgage PSD.

Glossary of definitions can be found .

Citation formats

In the fourth quarter of 2024, the number of mortgage sales in the UK stood at over **. Of these, the vast majority were taken out with a fixed interest rate. The average mortgage interest rate soared in 2022. That has resulted in an overall decline in mortgage sales and a slight uptick in sales with a variable rate.

A fixed interest rate is simply a mortgage where the rate of repayment is fixed. The source defines a standard variable rate as "the rate that is the lender’s underlying variable interest rate. This rate is a basic variable rate charged to borrowers with no discounts or other special deals. It is also the rate used by the lender as a reference rate when defining a discounted variable rate product (e.g., discounted product ABC is **** percent below the lender’s standard variable or basic rate). This is the rate that mortgage deals will often revert to after a special rate period."