Total number of mortgage sales in the UK 2022, by borrower
In 2022, the number of mortgage sales (PSD) in the United Kingdom (UK) stood at over 1.1 million for the year. Of these, the vast majority of mortgage sales were made up of remortgagors, home movers and first time buyers. In that year, there were close to 320,500 remortgages in the UK. A remortgage is when a new mortgage is taken out for the process of paying off a previous mortgage. In this case, the new property is used as security on the new mortgage.
Product sales data (PSD) is collected by the Financial Conduct Authority (FCA) and includes new sales (including remortgages); transfers, top-ups, alterations (such as mortgage switches with the same lender). It does not include data on transactions made through fund supermarkets and nominee accounts (such as those used in platforms), and increments and renewals are generally not included according to the source. In the UK, all home finance providers are required to submit the mortgage PSD.