Net mortgage borrowing by UK individuals rose by 3.1 billion GBP in June 2025 to a total of 5.3 billion GBP, accelerating from a 2.8 billion GBP increase to 2.2 billion GBP in May. The annual growth rate of net mortgage lending edged up to 2.8%, compared to 2.6% the previous month. Gross mortgage lending increased to 23.9 billion GBP in June, up from 20.6 billion GBP in May, while gross repayments also rose to 18.8 billion GBP from 17.6 billion GBP. Meanwhile, the ‘effective’ interest rate on newly drawn mortgages declined for the fourth consecutive month, falling to 4.34% in June from 4.47% in May. In contrast, the rate on outstanding mortgage balances ticked up slightly to 3.88% from 3.87%.