Reference Case Number: FOI12153
Freedom of Information: Right to know request:
1. How many mortgage holders switched to an interest only mortgage in each of the past five years (2020 - 2024)? And can you break the data down by region - South West, North West etc.
2. Could you also provide the same data on a monthly basis for the 12 months up to the end of February 2025 or for the 12 months up to the most current month that you have data. And can you break down the data by region - South West, North West etc.
3. What was the total number of interest only mortgages and what % share of the residential mortgage market did they make up in each of the past five years (2020 - 2024)
4. How many mortgage holders extended the term of their mortgage in each of the past five years (2020 -2024)?
5. Could you also provide the same data on a monthly basis for the 12 months up to the end of February 2025 or for the 12 months up to the most current month that you have data.
FCA response:
We do not hold the information you have requested in questions 1, 2, 4 and 5.
In response to question 3, the total number of interest-only mortgages and the percentage share of the residential mortgage market made up in each of the past five years (2020 - 2024) can be found in the table below. The data is provided separately for pure interest-only mortgages and mortgages that are part interest-only and part repayment.
| Half of year | No. of Interest-Only Mortgages | % of total number of regulated mortgages | No. of Capital and Interest Mortgages (including Interest-Only) | % of total number of regulated mortgages |
|---|---|---|---|---|
| 2020 H1 | 1,122,469 | 12.76 | 302,848 | 3.44 |
| 2020 H2 | 1,100,221 | 12.39 | 290,315 | 3.27 |
| 2021 H1 | 1,037,309 | 11.61 | 276,513 | 3.09 |
| 2021 H2 | 1,003,350 | 11.25 | 257,892 | 2.89 |
| 2022 H1 | 973,273 | 10.84 | 256,356 | 2.85 |
| 2022 H2 | 959,121 | 10.63 | 243,940 | 2.70 |
| 2023 H1 | 937,681 | 10.42 | 227,261 | 2.52 |
| 2023 H2 | 917,876 | 10.23 | 234,015 | 2.61 |
| 2024 H1 | 915,274 | 10.24 | 234,354 | 2.62 |
| 2024 H2 | 847,077 | 9.46 | 208,825 | 2.33 |
Source: FCA Product Sales Data (PSD007)
Base: all outstanding regulated mortgages