Thursday 8 May 2025, 09:00

UK Finance mortgages data update

Dear all,

Ahead of the Bank of England’s Bank Rate decision today, please see below relevant UK Finance data for those of you writing on the mortgage market this week. This includes information on the total number of mortgages and data on what a change in Bank Rate would do to average monthly mortgage costs.

All lenders continue to have teams of experts ready to help anyone struggling with their mortgage payments. There is information on our Reach Out campaign available here.

We may be able to help with other data queries; please do let us know if we can assist in any way.

Residential mortgages outstanding

This table shows the split of mortgages across fixed rates, trackers and standard variable rates.

Mortgage type	Number	% of total
Fixed	7,104,000	85%
Tracker	591,000	7%
SVR	540,000	6%
Total	8,404,000	100%

Of the total number of fixed rate deals, UK Finance analysis shows that around 1.6 million will end in total in 2025.

Further analysis

This table shows average monthly payments and interest rates for various different mortgage types.

Metric	Tracker	SVR	Fixed
Average balance outstanding	£139,042	£66,576	£167,691
Average current mortgage interest rate	5.93%	7.38%	3.65%
Average current monthly interest payment	£687	£410	£510
Average total payments (for borrowers on capital and interest)	£991	£652	£943

Rate change scenarios (change from current monthly payment)

This table shows what would happen to average monthly payments for tracker and standard variable rate mortgages if the Bank of England changes interest rates.

Those on fixed rate mortgages will see no changes to their monthly payments.

Bank Rate change	Tracker	SVR	Fixed
-0.50%	£-57.93	£-27.74	£0
-0.25%	£-28.97	£-13.87	£0
0.00%	£0.00	£0.00	£0
+0.25%	£28.97	£13.87	£0
+0.50%	£57.93	£27.74	£0

Contact Information

UK Finance Press Office
020 7416 6750
press@ukfinance.org.uk

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