Abstract
Introduction
The UK Mortgage Market has seen unprecedented change in the past 18 months,
from collapsed wholesale funding markets, to the nationalization of some of
the country' s biggest lenders. With many homeowners now struggling to keep up
repayments, house prices at record lows and lending criteria still very
strict, the market is set to tread a long and winding path before it returns
to normal.
Scope of this research
- Combines all of the mortgage research conducted in 2009 into one
comprehensive document.
- Provides market sizing data, market shares, key trends, in-depth analysis
of first-time buyer and remortgaging sectors and consumer trends.
- Includes detailed qualitative opinion and quantitative forecasts of the UK
mortgage market for the next five years.
Research and analysis highlights
Datamonitor predicts that total gross lending in 2009 will reach £140
billion, a 46% decline as compared to the £261 billion worth of lending
seen in 2008.
In February 2008, there were over 1,000 available products with a maximum LTV
of 90% or more, and 500 products at 95% LTV or more. However, 12 months later,
this had dropped to just 100 products and 10 products, respectively.
The remortgaging market has seen a large contraction so far in 2009 and this
is expected to continue as consumers are wary of remortgaging and banks remain
cautious over lending. Datamonitor forecasts that the remortgaging market will
reach a nadir of £37.5m in terms of gross advances in 2010 before slowly
recovering in 2011.
Key reasons to purchase this research
- Plan your future strategy with confidence using Datamonitor' s
scenario-based forecasts of UK residential mortgage gross advances to 2013.
- Understand the challenges the mortgage industry is facing.
- In-depth analysis of how lenders are coping with a number of issues
allowing you to reassess your strategy.
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