The majority of homebuyers in the UK changed their mortgage lender when moving to a different home. Between 2017 and 2022, this share fluctuated from 62 percent to 73 percent. In 2022, 69 percent of borrowers switched to another lender when they moved to a different property. That was an increase from 2020, but below the 2017 figure.
Share of mortgage borrowers in the United Kingdom (UK) who changed lenders during their home move from 2017 to 2022
Characteristic
Percentage of mortgage borrowers
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Financial Conduct Authority. (July 26, 2023). Share of mortgage borrowers in the United Kingdom (UK) who changed lenders during their home move from 2017 to 2022 [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/1418679/uk-switched-lenders-during-home-move/
Financial Conduct Authority. "Share of mortgage borrowers in the United Kingdom (UK) who changed lenders during their home move from 2017 to 2022." Chart. July 26, 2023. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/1418679/uk-switched-lenders-during-home-move/
Financial Conduct Authority. (2023). Share of mortgage borrowers in the United Kingdom (UK) who changed lenders during their home move from 2017 to 2022. Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/1418679/uk-switched-lenders-during-home-move/
Financial Conduct Authority. "Share of Mortgage Borrowers in The United Kingdom (Uk) Who Changed Lenders during Their Home Move from 2017 to 2022." Statista, Statista Inc., 26 Jul 2023, https://www.statista.com/statistics/1418679/uk-switched-lenders-during-home-move/
Financial Conduct Authority, Share of mortgage borrowers in the United Kingdom (UK) who changed lenders during their home move from 2017 to 2022 Statista, https://www.statista.com/statistics/1418679/uk-switched-lenders-during-home-move/ (last visited August 24, 2024)
Share of mortgage borrowers in the United Kingdom (UK) who changed lenders during their home move from 2017 to 2022 [Graph], Financial Conduct Authority, July 26, 2023. [Online]. Available: https://www.statista.com/statistics/1418679/uk-switched-lenders-during-home-move/