In 2022, the main reason for not changing their mortgage lender or switching to a new rate for borrowers in the UK was that they were satisfied with their mortgage. Among those who had not made any modifications to their mortgage, the most frequently cited reason for not changing was their satisfaction with their current mortgage, accounting for 34 percent of individuals. The proportion of individuals who cited the fixed rate as one of the primary reasons for not switching the lending institution was 28 percent. A significant proportion of the respondents also held the belief that they received a competitive rate and had secured a favorable mortgage deal.
Share of mortgage borrowers in the United Kingdom (UK) in 2022, by reason for staying with current lender
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Financial Conduct Authority. (July 26, 2023). Share of mortgage borrowers in the United Kingdom (UK) in 2022, by reason for staying with current lender [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/1418681/uk-reason-for-staying-with-lenders/
Financial Conduct Authority. "Share of mortgage borrowers in the United Kingdom (UK) in 2022, by reason for staying with current lender." Chart. July 26, 2023. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/1418681/uk-reason-for-staying-with-lenders/
Financial Conduct Authority. (2023). Share of mortgage borrowers in the United Kingdom (UK) in 2022, by reason for staying with current lender. Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/1418681/uk-reason-for-staying-with-lenders/
Financial Conduct Authority. "Share of Mortgage Borrowers in The United Kingdom (Uk) in 2022, by Reason for Staying with Current Lender." Statista, Statista Inc., 26 Jul 2023, https://www.statista.com/statistics/1418681/uk-reason-for-staying-with-lenders/
Financial Conduct Authority, Share of mortgage borrowers in the United Kingdom (UK) in 2022, by reason for staying with current lender Statista, https://www.statista.com/statistics/1418681/uk-reason-for-staying-with-lenders/ (last visited December 23, 2024)
Share of mortgage borrowers in the United Kingdom (UK) in 2022, by reason for staying with current lender [Graph], Financial Conduct Authority, July 26, 2023. [Online]. Available: https://www.statista.com/statistics/1418681/uk-reason-for-staying-with-lenders/
