UK mortgage lending quarterly 2007-2023

Gross advances of residential loans refer to the amount of new mortgage loans to borrowers. In the first two quarters of 2020, mortgage lending fell significantly. This was largely due to the coronavirus (COVID-19) pandemic, the nationwide lockdown, and decreasing consumer confidence. In the following quarters, surged and surpassed the pre-pandemic levels. The first quarter of 2023 witnessed another drop in mortgage lending, with the value of gross lending falling below 59 billion British pounds - the lowest figure observed since 2017 and a decrease of approximately 24 percent from the same period in 2022.

Total value of gross mortgage lending and annual percentage change in the United Kingdom (UK) from 1st quarter 2007 to 1st quarter 2023 (in billion GBP)

Characteristic	Annual percentage change	Gross lending in billion GBP
Q1 2023	-23.6%	58.77%
Q4 2022	16.3%	81.62%
Q3 2022	17%	85.94%
Q2 2022	-12.5%	77.99%
Q1 2022	-7.5%	76.94%
Q4 2021	-8.4%	70.2%
Q3 2021	17.4%	73.44%
Q2 2021	101.8%	89.12%
Q1 2021	26.4%	83.18%
Q4 2020	4.3%	76.6%
Q3 2020	-14.7%	62.53%
Q2 2020	-33.2%	44.16%
Q1 2020	3.9%	65.82%
Q4 2019	0.8%	73.47%
Q3 2019	-0.2%	73.3%
Q2 2019	-1%	66.09%
Q1 2019	1.5%	63.37%
Q4 2018	5.7%	72.88%
Q3 2018	3.9%	73.45%
Q2 2018	6.6%	66.73%
Q1 2018	3.3%	62.44%
Q4 2017	9.9%	68.96%
Q3 2017	9.7%	70.72%
Q2 2017	7.8%	62.59%
Q1 2017	-5.6%	60.44%
Q4 2016	-0.5%	62.77%
Q3 2016	3.8%	64.45%
Q2 2016	10.4%	58.04%
Q1 2016	40.4%	64.02%
Q4 2015	22.8%	63.09%
Q3 2015	11.1%	62.1%
Q2 2015	2%	52.56%
Q1 2015	-3.2%	45.59%
Q4 2014	-0.2%	51.37%
Q3 2014	12.8%	55.91%
Q2 2014	23.6%	51.52%
Q1 2014	38.4%	47.1%
Q4 2013	30.7%	51.49%
Q3 2013	25.2%	49.57%
Q2 2013	12.8%	41.67%
Q1 2013	-6.6%	34.04%
Q4 2012	-1.8%	39.4%
Q3 2012	-9.1%	39.6%
Q2 2012	1%	36.93%
Q1 2012	10.5%	36.44%
Q4 2011	9%	40.11%
Q3 2011	6.7%	43.57%
Q2 2011	0.2%	36.55%
Q1 2011	2.9%	32.98%
Q4 2010	-10.8%	36.81%
Q3 2010	1.2%	40.83%
Q2 2010	7.9%	36.47%
Q1 2010	-1.7%	32.05%
Q4 2009	-8%	41.25%
Q3 2009	-33.4%	40.33%
Q2 2009	-52.8%	33.8%
Q1 2009	-55.6%	32.59%
Q4 2008	-48.3%	44.82%
Q3 2008	-40.6%	60.58%
Q2 2008	-25.9%	71.63%
Q1 2008	-15.1%	73.37%
Q4 2007	-	86.61%
Q3 2007	-	101.98%
Q2 2007	-	96.69%
Q1 2007	-	86.43%

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Release date

June 2023

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Region

United Kingdom

Survey time period

Q1 2007 to Q1 2023

Supplementary notes

The annual percentage change has been calculated by Statista based on figures by the source. The source added the following information "Total mortgage gross lending gives the total value of loans secured on dwellings that are newly advanced by institutions in the period. All the figures were sourced from the Bank of England except the estimate for the most current month."

Figures rounded.

Not seasonally adjusted.

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