Reference Index

Headline Market Statistics

As at 30th June 2023

 Headline Market Statistics 

  • There are currently around 773,000 mortgage holders are currently sitting on their lenders reversionary rate

  • During 2022, around 1.2m mortgage holders remained with with their existing provider at the end of their initial preferential rate period for simplicity’s sake, even though it is rarely the best value. This is up ~2% from the previous year

  • The difference between the average reversionary rate and and a typical competitive deal being 1.82% as at 30th June 2023.


With more than 770,000 mortgage holders currently sat on their lenders reversionary rate and with the difference between the average reversionary rate and and a typical competitive deal being ~2.0%, this is equivalent to a difference in interest payments of £2,586* a year by not switching. 

Many of these people are ‘between deals’ but pay a steep price for not switching immediately. It typically takes these homeowners a little over three months to move from an SVR to a new deal once their fixed-rate deal has expired, costing them an average of £642 in overpayments during the interim period as a result.  

Over 1.2m mortgage holders make this mistake, then settling for a new deal offered by their current provider for simplicity’s sake, while a around 49% of mortgage holders said they settled for a deal just to ‘get it sorted’.


  1. *Total gross annual mortgage overspend is calculated by applying the difference between paying the average reversionary rate (7.89%) and paying a competitive rate based on the average top tier 2 year fixed mortgage (6.07%) on the average mortgage balance of £185,000. This difference £2,586 applied to the number of SVR mortgage holders (773,000) = £1.99bn.

About the Research

Market research: Sources for mortgage data includes UK Finance (no. Of SVR mortgages, mortgages staying with the same lender and total mortgages), Dashly Product Data (average SVR & average competitive 2 year fixed mortgage product)

2. Dashly savings statistics

As of 30th June 2023, an average saving of £383 per month (£4,596 per annum) was available across our customer base to those who had a Better Deal (Saving Opportunity) available to them. The average monthly saving is comprised of all customers currently on the Dashly platform, whether they were acquired directly or via partnerships with mortgage intermediaries. Monthly savings take into account any potential set-up charges on the new mortgage (lender product fees etc.), exit penalties that customers may need to pay (Early Repayment Charges (ERC's)) and are aggregated over each individual customers "Comparison Period" and displayed as a monthly and 12 month saving figure for ease.