Abstract
Two decades of global financial innovation are under threat following the default on hundreds of thousands of sub-prime mortgages in the US. In the UK, the emergence of the non-standard mortgage market in the past decade has been based largely on similar securitised financing techniques used in the US, enabling risk to be transferred away from lenders to investors. These techniques have enabled large numbers of people who do not meet mainstream lenders criteria to be offered mortgages by a new breed of specialist lenders.
Demand for these non-standard mortgages will continue to grow as people' s financial circumstances become ever more complicated. However, accessing such facilities will become harder. This report assesses the implications of the credit crunch on non-standard lending, which is no longer a niche part of the mortgage industry.
Mintel' s report will provide a thorough appraisal of the current state of the UK non-standard mortgage market and assess its prospects for growth. The report offers:
- an investigation into the internal and broader macroeconomic factors impacting on the market
- an overview of the market' s competitive context, and its strengths and weaknesses
- insight into the leading views of experts
- an examination of recent and projected market growth and segment performance
- an appraisal of the supply side of the market, including market shares of the largest mortgage lenders
- comments on product innovation, distribution and promotion
- consumer demand for lending products
- the results of Mintel' s independently-commissioned consumer research, which offers insight into the leading, characteristics, attitudes, and behaviour of the non-standard consumer.
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