Net secured lending to individuals (monthly change), United Kingdom
Net secured lending to individuals in the United Kingdom was £4.4 bn in , up £328.0 mn from and down £267.0 mn from a year earlier. Over the latest 12 readings it moved between £3.1 bn and £7.6 bn. Source: Bank of England, Bank of England Database LPMVTVJ; history from .
Key takeaways
- Net secured lending to individuals at £4.4 bn in beats 74% of readings since (Bank of England).
- Against a ten-year average of £3.8 bn, net secured lending to individuals is above that norm by £647.7 mn (Bank of England).
What this indicator is and why it matters
Net secured lending to individuals is the monthly change in the amount UK households owe on loans secured on their homes, mostly mortgages, after repayments. The Bank of England publishes it seasonally adjusted (series LPMVTVJ); a negative figure means households repaid more mortgage debt than they borrowed.
It is the most direct monthly measure of mortgage market activity in the United Kingdom. Rising net lending signals more house purchases and remortgages with extra borrowing, while falling or negative lending shows buyers stepping back, often when mortgage rates rise. Banks and building societies watch it as a read on demand for their main product, and the Bank of England uses it to judge how its rate decisions are reaching the housing market.
The series is volatile around tax deadlines. Changes to stamp duty, such as the temporary relief in 2020 and 2021 and the change in thresholds in April 2025, pulled purchases forward and produced large spikes followed by falls, which say little about underlying demand. Because it is a net flow, a high figure can come from lower repayments as well as higher borrowing. Compare several months together, and use the amount outstanding for the stock of debt.
Where it sits in history
Net secured lending to individuals is at its highest since , when it stood at £7.6 bn. Within ten years, net secured lending to individuals beats 71% of readings.
| Window | Latest is higher than | Average | Highest | Lowest |
|---|---|---|---|---|
| Since January 2006 | 74% of readings | £3.4 bn | £17.1 bn | -£1.8 bn |
| Last ten years | 71% of readings | £3.8 bn | £17.1 bn | -£1.8 bn |
| Last five years | 67% of readings | £3.4 bn | £13.0 bn | -£1.4 bn |
- Net secured lending to individuals (monthly change) £4.4bn
Recent readings
Last five years
- Net secured lending to individuals (monthly change) £4.4bn
Latest readings
| Period | Value | Change from previous |
|---|---|---|
| £4.4 bn | +£328.0 mn | |
| £4.1 bn | -£3.5 bn | |
| £7.6 bn | +£4.5 bn | |
| £3.1 bn | -£1.3 bn | |
| £4.4 bn | -£2.3 bn | |
| £6.7 bn | +£1.5 bn | |
| £5.2 bn | +£657.0 mn | |
| £4.5 bn | -£331.0 mn | |
| £4.9 bn | -£8.0 mn | |
| £4.9 bn | +£336.0 mn | |
| £4.5 bn | -£887.0 mn | |
| £5.4 bn | +£734.0 mn | |
| £4.7 bn | +£307.0 mn |
Annual averages
By calendar-year average, net secured lending to individuals peaked in (£9.0 bn) and bottomed in (£215.1 mn). 2026 to date: £5.0 bn, after £4.7 bn in 2025.
| Year | Average | Low | High | Readings |
|---|---|---|---|---|
| 2026 (part year) | £5.0 bn | £3.1 bn | £7.6 bn | 8 |
| 2025 | £4.7 bn | -£1.3 bn | £13.0 bn | 12 |
| 2024 | £2.1 bn | -£432.0 mn | £3.9 bn | 12 |
| 2023 | £215.1 mn | -£1.4 bn | £2.4 bn | 12 |
| 2022 | £4.8 bn | £2.2 bn | £7.2 bn | 12 |
| 2021 | £6.0 bn | -£1.8 bn | £17.1 bn | 12 |
| 2020 | £3.8 bn | £73.0 mn | £7.0 bn | 12 |
| 2019 | £4.1 bn | £3.1 bn | £5.0 bn | 12 |
| 2018 | £3.7 bn | £3.3 bn | £4.0 bn | 12 |
| 2017 | £3.8 bn | £3.2 bn | £4.2 bn | 12 |
| 2016 | £3.4 bn | £687.0 mn | £7.1 bn | 12 |
| 2015 | £2.9 bn | £1.8 bn | £3.9 bn | 12 |
| 2014 | £1.9 bn | £1.5 bn | £2.4 bn | 12 |
| 2013 | £1.1 bn | £548.0 mn | £1.8 bn | 12 |
| 2012 | £902.5 mn | £343.0 mn | £1.8 bn | 12 |
| 2011 | £584.3 mn | -£245.0 mn | £1.4 bn | 12 |
| 2010 | £488.6 mn | -£344.0 mn | £1.3 bn | 12 |
| 2009 | £729.9 mn | £148.0 mn | £1.5 bn | 12 |
| 2008 | £2.9 bn | £147.0 mn | £6.3 bn | 12 |
| 2007 | £8.7 bn | £6.9 bn | £9.8 bn | 12 |
| 2006 | £9.0 bn | £7.4 bn | £10.2 bn | 12 |
How is it measured?
Monthly change in total sterling net secured lending to individuals.
Bank of England publishes net secured lending to individuals monthly in Bank of England Database LPMVTVJ, in GBP and is seasonally adjusted. Code: LPMVTVJ. Method for net secured lending to individuals.
Questions
How high is net secured lending to individuals in the United Kingdom now?
£4.4 bn in (Bank of England), down £267.0 mn on a year earlier.
Is net secured lending to individuals high by historical standards?
Net secured lending to individuals beats 74% of readings since ; its peak was £17.1 bn (), its low -£1.8 bn ().
When is net secured lending to individuals updated?
Monthly, in Bank of England Database LPMVTVJ. Next reading: September 2026.
Where can I check net secured lending to individuals at the source?
Bank of England data, code LPMVTVJ.