The UK is still officially in recession, the deepest downturn in decades. The resulting fall in consumer demand for mortgages has combined with a severe restriction in the availability of credit to cause a massive downturn in gross lending in 2009. This brief offers detailed analysis of the market and how it is expected to develop over the next few years.
Scope
- Provides an evaluation of the market and industry trends up to Q3 2009.
- Examines the impact of factors such as the base rate, arrears and repossessions and the pre-budget report on the market.
- Sets out forecasts for gross lending covering the period 2010-2013 under three different scenarios.
Highlights of this title
UK gross lending fell to £39 billion in Q3 2009, a 36% decline on the same period in 2008.
Remortgaging has been stagnant throughout 2009, and will only recover once the base rate starts to rise.
The supply of mortgage credit, critical to the effective functioning of the market, is slowly starting to increase, following a prolonged period of contraction.
Key reasons to purchase this title
- Understand what issues have driven market performance in Q3 2009.
- View details of forecasts for the period up to 2013 to help plan your future strategies.
- Review the impact of proposed FSA regulations affecting the mortgage market.
