Money and Lending - January 2026

Mortgage and Consumer Credit Trends in January

In January, individuals borrowed a net total of £4.1 billion in mortgage debt, marking a decline from December’s £4.5 billion and falling short of the previous six-month average of £4.5 billion. The number of approved mortgages for home purchases also dropped to 60,000, which is lower than the six-month average of approximately 64,100. Remortgage approvals saw a slight decrease as well, reaching 38,100 in January compared to 38,400 in December.

Meanwhile, net consumer credit borrowing by individuals rose to £1.8 billion in January, up from £1.7 billion the previous month, aligning with the six-month average of £1.8 billion.