Reference Case Number: FOI2025/00219
Freedom of Information: Right to know request:
Please provide the following information regarding offset mortgages in the United Kingdom:
1. The total number of outstanding offset mortgages for each calendar year from 2020 to the most recent date available in 2024. Please provide this data broken down by year.
2. The percentage of the total UK mortgage market that these outstanding offset mortgages represent for each calendar year from 2020 to the most recent date available in 2024. Please also provide this data broken down by year.
FCA response:
We can confirm that we hold the requested information, which can be found in the table 1 below.
Please note that our product sales data does not identify outstanding offset mortgages. We do, however, collect the ‘value of linked accounts’ data in relation to outstanding mortgage stock, which indicates whether a mortgage is an offset mortgage. This data item is defined as follows in SUP 16 Annex 21 Reporting Fields - FCA Handbook[1]:
“Report the value of linked accounts that are offset against the mortgage, e.g. to reduce the amount of interest payable, such as savings and current accounts. Do not report accounts that are not offset, e.g. savings account used as additional collateral for the mortgage. Report '0' where there are no linked accounts.”
The table below identifies the number and proportion of mortgages with non-zero values for linked accounts.
Table 1
| Year-end | Number of mortgages | Proportion of total outstanding mortgages |
|---|---|---|
| 2020 | 254,698 | 2.9% |
| 2021 | 224,507 | 2.5% |
| 2022 | 189,879 | 2.1% |
| 2023 | 178,795 | 2.0% |
| 2024 | 155,526 | 1.7% |
Source: FCA Product Sales Data (PSD007)