UK HCI index: mortgage interest payments
UK HCI index: mortgage interest payments stood at 231.4 in Jun 2026, according to Office for National Statistics (ONS). It is one of the indicators in the Consumer price inflation table (Value · Monthly), with a complete series running from Feb 2007 to Jun 2026. The complete series with an interactive chart, free to download.
This indicator in the Consumer price inflation table
| Indicator | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All households: index by spending category (2015 = 100) | |||||||||||
| 04.2a Mortgage interest payments | 231.4 | 231.1 | 231.4 | 230.9 | 227.9 | 226.9 | 227.2 | 225.7 | 225.4 | 224.4 | |
| 04.2b Stamp duty | 190.1 | 186.8 | 188.1 | 178.5 | 180.6 | 185.3 | 172.5 | 176.2 | 170.8 | 177.5 |
Understanding UK HCI index: mortgage interest payments
Recording the cost evolution of residential borrowing for house purchase across the United Kingdom, this series isolates the interest payments associated with mortgages. Unlike measures that exclude property financing costs entirely, this index captures the direct impact of central bank interest rate adjustments on indebted homeowners throughout the United Kingdom. Excluded from this measure are capital repayments of the principal loan amount and commercial property mortgages. The underlying calculation reflects average borrowing rates and outstanding debt stocks across the United Kingdom.
Interpreting this series demands close attention to monetary policy cycles, as rapid adjustments to benchmark interest rates translate directly into borrower costs. Month-on-month stability often gives way to sharp revisions when lenders reprice fixed-rate products or variable tariffs adjust. Year-on-year comparisons provide an honest reflection of sustained financing cost shifts by smoothing out refinancing waves. Observers comparing this measure with rental indices must remember that mortgage costs respond to interest rates whereas rents reflect landlord operating expenses and tenant demand.
Frequently asked questions
- Do capital repayments count towards this mortgage index?
- No, only the interest portion of residential mortgage payments is measured.
- How do central bank rate changes affect the series?
- Shifts in benchmark rates flow through to variable mortgages and repricing fixed deals, altering the index trajectory.
- Why is annual comparison vital for mortgage costs?
- Annual views capture the full repricing cycle of fixed-rate mortgages expiring over a twelve-month period.