While
the market
has recovered well since the financial crisis, often growing by a double-digit
percentage year-on-year, rising economic uncertainties will dampen the
prospects for future growth over the coming years. During 2017-21, gross
advances are expected to record a CAGR of 5.7%, reaching 327.0bn by the end of
the forecast period.
On
the supply side, an increased supply of new homes, stamp duty relief for
first-time buyers, and tighter controls on buy-to-let lenders will improve
matters for first-time buyers by reducing investor demand for properties.
Legislative changes in the buy-to-let sector such as higher stamp duty and
stricter underwriting standards will act as a drag on future growth, in what
has been the standout sector in the years since the financial crisis.
Political
uncertainty arising from the Brexit negotiations has dampened the economy's prospects.
At the same time, real wages are shrinking as annual pay increases fail to keep
pace with rising inflation. Combined with the rapid growth in consumer credit
and ensuing high levels of household debt, this will limit the capacity of
consumers to take on significantly higher levels of mortgage debt. This report
offers five-year gross lending forecasts for residential and niche mortgages up
to 2021, along with a detailed examination of the various demand- and
supply-side factors that will determine the market outlook. It offers insight
into The key macroeconomic, regulatory, and other factors that will drive the
demand for and supply of mortgages over the next five years. The outlook for
niche sectors, including buy-to-let, equity release, shared ownership, shared
equity, and self-build.
The
impressive growth in buy-to-let lending as seen over the last few years has
come to a sudden halt, and is unlikely to resume in the near future. Equity
release continues to enjoy much success, with lending showing significant
year-on-year growth. Prospects for further growth are healthy, with several
years' worth of property price rises leaving borrowers with plenty of capital
value to unlock, while the cost of equity release products is falling. Lending
on shared ownership properties will see huge percentage increases over the
forecast period, largely off the back of the government'snew Affordable Homes
Programme 2016-21. An estimated 135,000 shared ownership homes will be built
under this scheme, thus fueling a boom in associated mortgage lending.
Key Topics Covered in the Report:
UK
Mortgage Market Research Report
UK
Mortgage Market Future Outlook
UK
Mortgage Market Size
UK
Mortgage Market Trends
UK
Mortgage Market Demand
UK
Mortgage Market Share
UK
Mortgage Market Analysis
UK
Mortgage Market Research
UK
Mortgage Market Revenue
Mortgage
Market Witnessed Moderate Growth
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Contact:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-124-4230204
