Abstract
Overview
Introduction
After a record performance in 2006, the UK mortgage market continues to exceed
expectations, delivering another record performance in Q1 2007. Indeed, the
likely effects of successive increases in the base rate have yet to be
reflected in consumer demand. However, it is highly likely that demand will
slow during the remainder of 2007 in the wake of further potential increases
in the base rate.
Scope
- Provides the latest marking sizing figures for the UK mortgage market and
analyses industry trends in the Q1 2007.
- Details Datamonitor' s latest scenario based forecasts for the future of
the UK mortgage market in an accompanying interactive Excel model.
- Provides a regulatory update.
- Covers innovative mortgage products introduced in Q1 2007.
Report Highlights
The robustness of housing activity in the first quarter of 2007 was reflected
in mortgage lending. Indeed, data from the Council of Mortgage Lenders (CML)
highlights that gross advances in the UK mortgage market reached a staggering
£83.9 billion in the first quarter of 2007, the highest lending ever reached
in the first quarter of any year.
While the latest increase in the base rate is likely to be an issue for
overstretched borrowers, the overall impact of the one percentage point raise
in the base rate since August 2006 is likely to have a cooling effect on the
UK mortgage market.
The latest episode in the never-ending saga of the HIPs regime and the various
volte-face of the Government further highlight the inefficiency of the latter
with regards to this piece of legislation.
Reasons to Purchase
- Review market performance in Q1 2007 to place your performance in context
to the market' s.
- View the latest independent annual forecasts for the UK mortgage market to
plan your future strategy with confidence.
- Understand the key challenges facing lenders in 2007 and the impact they
are having on the market.
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