UK Mortgages market report
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Providing the most comprehensive and up-to-date information and analysis of the Mortgages market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Products covered in this Report
This Report includes discussion of residential mortgages used for the following reasons:
- House purchase: the loan is used to purchase a property.
- Remortgage: where a mortgage borrower redeems his/her existing mortgage with their current lender and takes out a new mortgage on the same property.
- Further advance: a form of additional borrowing offered by lenders to their existing mortgage customers for the purposes of home improvements or to buy a car etc. By taking out a further advance, a borrower is increasing their overall mortgage debt with the lender.
For the purposes of this Report, Mintel has used the following definitions of mortgage interest rates:
- Fixed rate: the interest payments are fixed for a set period of time, after which the borrower will be moved on to another rate, such as the lender’s standard variable rate.
- Standard variable rate (SVR): the interest varies with the lender’s mortgage rate.
- Tracker rate: the interest rate moves up or down by tracking an external rate, such as the Bank of England base rate or LIBOR (London Interbank Offered Rate).
- Discounted rate: the interest rate varies with the lender’s SVR, but the rate is also discounted for a set period of time.
Expert analysis from a specialist in the field
Written by Richard Shepherd, a leading analyst in the Finance sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The mortgage market remains in a good state, but it is probable that the slower rate of growth achieved in 2017 is likely to be a sign of things to come over the next few years. While mortgages are still in high demand, the challenges of Brexit uncertainty, squeezed household incomes and concerns over interest rate rises will limit performance.
Senior Financial Services Analyst
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