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UK Mortgages 2010: Competitive Dynamics in the UK Mortgage Market
Datamonitor, Aug 2010, Pages: 58
The mortgage market continues to face challenging conditions in 2010, but there are signs that the situation is slowly recovering. Although lending volumes remain very low compared to before the crisis, product availability and affordability are improving. Some providers have been able to exploit their relative financial strength to significantly increase market share.
Scope
- Provides an overview of the general market, looking at trends in gross and net lending.
- Examines in detail the performance of lender types and specific providers relative to one another.
- Analyses current trends in the availability of mortgage products, as well as assessing movements in fees and rates.
Highlights of this title
Banks are performing better than other lenders, with their share of gross lending rising from 68% in 2007 to 83% in 2009. Santander and HSBC have exploited their strength relative to other banks to significantly expand their share of lending. Specialists’ share of the market fell from 17% in 2007 to just 4% in 2009 as wholesale funding collapsed.
Building societies have found conditions particularly difficult. Compensation scheme levies, deposit outflows, stricter liquidity requirements and narrowing margins have impaired their profitability and ability to lend. Many building societies have been forced to merge to safeguard their future.
Product availability is improving, rates are starting to fall and maximum LTVs are gradually increasing. A few lenders are now offering 95% LTV loans. Other providers, such as Nationwide and Lloyds TSB, are offering preferential deals to their current account customers to promote loyalty and cross-sales.
Key reasons to purchase this title
- Understand the key issues driving changes in the competitive landscape.
- Discover why some lenders are outperforming the rest of the market while others are struggling.
- Learn about the latest developments in product attributes and innovation.
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