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Future Buyer Intentions in the UK Mortgage Market
Datamonitor, Feb 2008, Pages: 16
With funding remaining an issue and consumers continuing to be saddled with significant amount of debts, the UK mortgage market promises to be very challenging in 2008. In particular, customer acquisition remains a testing area and understanding the preferences of future mortgage customers will provide useful insight to lenders when designing their acquisition and distribution strategies.
Scope
- Draws upon Ipsos MORI data to provide insight into the behavior of future mortgage customers.
- Analyzes the data by age groups and household income bands where relevant.
- The data was collected during 2007 at four different points in time—February, May, August and November—and presented as 2007 as a whole.
Highlights of this title
While on the whole, 11% of respondents stated they might consider taking out, topping up or changing their mortgage in the next five years, further analysis of the data highlights that this proportion increases to 18% for the 18-29 year old age group and the 30-44 year olds.
Unsurprisingly, traditional organizations such as building societies and banks are the preferred organization types by consumers when considering taking out a mortgage with 75% and 72% of responses respectively.
When taking out a mortgage, more than a third of consumers would choose the internet over face-to-face to find information about the product.
Key reasons to purchase this title
- Gain access to consumer data to understand the future behavior of mortgage customers and adapt your customer acquisition strategies accordingly.
- Learn who are the lenders consumers are most likely to take a mortgage with in the future.
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