UK Mortgage Market Projected to Reach USD 117.07 Billion by 2033

The latest report by IMARC Group, titled "UK Mortgage Market Size, Share, Trends and Forecast by Type, Application, and Region, 2025-2033," offers a comprehensive analysis of the UK mortgage market growth. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. The UK mortgage market size reached USD 38.21 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 117.07 Billion by 2033, exhibiting a growth rate (CAGR) of 13.25% during 2025-2033.

Base Year: 2024
Forecast Years: 2025-2033
Historical Years: 2019-2024
Market Size in 2024: USD 38.21 Billion
Market Forecast in 2033: USD 117.07 Billion
Market Growth Rate 2025-2033: 13.25%

UK Mortgage Market Overview

The UK mortgage market is witnessing strong growth due to increasing economic stability, favorable government policies, growing urbanization, and innovations in mortgage lending technology. The growth of the market is also strengthened by efforts directed at lowering interest rates and enabling ownership of homes among a wider section of the population.

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UK Mortgage Market Trends and Market Drivers

Rising Economic Growth and Stability:
The robust UK economy makes consumers spend substantial amounts of money, including buying houses. The IMF estimates that the GDP of the UK will grow by 0.7% in 2024, compared to 0.5% in 2023. This growth in the economy has a positive effect on the mortgage market through consumer confidence and purchasing power.

Government Housing Policies and Schemes:
Government policies such as Help to Buy, Shared Ownership, and Stamp Duty relief have played a vital role in supporting homeownership. These schemes offer financial support in the form of equity loans, reduced deposits, or tax relief, helping first-time buyers and low-income families to access the housing market. For example, the Help to Buy scheme has greatly enhanced the availability of newly developed homes for a wider number of prospective buyers.

Innovative Lending Strategies:
In August 2024, Lloyds Banking Group said it will permit new customers to borrow as much as 5.5 times their annual household income, more than the usual limit. The step will help make first-time buyers home owners, improving the development of the UK mortgage market.

UK Mortgage Market Segmentation

1. By Type
• Fixed-Rate Mortgages
• Variable-Rate Mortgages
• Tracker Mortgages
• Others

2. By Application
• Residential
• Commercial
• Others

3. By Region
• England
• Scotland
• Wales
• Northern Ireland

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UK Mortgage Market News

August 2024: Lloyds Banking Group announced that it would allow new buyers to take out loans worth up to 5.5 times their household annual income, higher than the traditional maximum. This initiative aims to support first-time buyers in purchasing new homes, thereby enhancing the UK mortgage market growth.

Key Highlights of the Report

1. Market Performance (2019-2024)
2. Market Outlook (2025-2033)
3. COVID-19 Impact on the Market
4. Porter's Five Forces Analysis
5. Strategic Recommendations
6. Historical, Current and Future Market Trends
7. Market Drivers and Success Factors
8. SWOT Analysis
9. Structure of the Market
10. Value Chain Analysis
11. Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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Contact Us
IMARC Group
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Email: sales@imarcgroup.com
Tel No: (D) +91 120 433 0800
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About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC's offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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