Press release
UK Mortgage Market Projected to Reach USD 117.07 Billion by 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 growing strongly due to increased economic stability, good government policies, urbanization, and technological innovations in mortgage lending. The market is also underpinned by policies to lower interest rates and make homeownership more affordable to the masses.
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UK Mortgage Market Trends and Market Drivers
Key trends and drivers influencing the UK mortgage market include:
Economic Growth and Stability:
The economic resilience of the UK, with GDP growth projected at 0.7% in 2024 compared to 0.5% in 2023, is persuading consumers to undertake significant financial commitments, like buying houses. The upward trend in the economy directly benefits the mortgage market by enhancing consumer confidence and purchasing power.
Government Housing Policies and Schemes:
Government schemes such as Help to Buy, Shared Ownership, and Stamp Duty reliefs have greatly made homeownership possible for first-time buyers and poor households. These initiatives offer money support in the form of equity loans, lower deposits, or tax relief, thus reducing the price of acquiring a home and spurring the mortgage market.
Technological Advancements in Mortgage Lending:
The convergence of digital platforms and fintech technology into the mortgage lending practices has simplified application processes, improved customer experiences, and made it more accessible. These technological advancements are driving the growth of the market by leveraging a technologically inclined population base and enhancing operational efficiencies.
UK Mortgage Market Segmentation
1. By Type
• Fixed Rate Mortgages
• Adjustable Rate Mortgages
• Others
2. By Application
• Residential
• Commercial
• Others
3. By Region
• England
• Scotland
• Wales
• Northern Ireland
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UK Mortgage Market News
May 2025: The UK's Financial Conduct Authority (FCA) initiated consultations on potential reforms to simplify mortgage issuance and advisory rules. The aim is to make mortgage modifications more accessible, efficient, and affordable, thereby enhancing financial flexibility for consumers.
April 2025: Mortgage lending growth in the UK is expected to more than double in 2025, spurred by anticipated interest rate cuts by the Bank of England. The EY Item Club predicts a 3.1% rise in mortgage lending this year, up from 1.5% growth in 2024.
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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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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