Net borrowing of mortgage debt by UK individuals decreased to GBP 4.4 billion in April 2026, the lowest in six months, from GBP 6.8 billion in March and below the previous 6-month average of GBP 5.1 billion. The annual growth rate for net mortgage lending increased slightly to 3.3% in April, from 3.0% in March. Secured gross lending decreased slightly to GBP 27.5 billion in April, from GBP 28.7 billion in March, still slightly above the 6-month average of GBP 24.8 billion. Repayments increased in April to GBP 22.7 billion, from GBP 19.8 billion in March, above the 6-month average of GBP 19.7 billion. The ‘effective’ interest rate on newly drawn mortgages increased, to 4.08% in April, from 4.03% in March. The rate on the outstanding stock of mortgages was 3.92% in April, down from 3.93% in March.