Please Wait.....
Report
UK Mortgage / Loan Broker - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 160 Pages I Mordor Intelligence
The UK Mortgage / Loan Broker Market size is estimated at USD 2.88 billion in 2024, and is expected to reach USD 4.56 billion by 2029, growing at a CAGR of 9.60% during the forecast period (2024-2029).
The COVID-19 effects were: Since lenders were unable to introduce new mortgages due to the failure of physical valuations, many lenders executed their high-value (LTV) mortgages in the market. The market stopped accepting new borrowing and purchases because brokers were worried about a loss in income caused by a lack of new business. Mortgage holders experienced stress as a result of changes in cash flow and interest rates, and as the epidemic worsened, borrowers declined to make further mortgage payments.
In 2021, the mortgage lending market was booming in the UK. Gross lending increased 26% over 2020, when pandemic restrictions had a significant negative impact on lending, to GBP 378 billion. But it was also 15% higher than the USD 378 billion in 2019. While slightly rising to 2.11% from 2.00% in 2020, the average mortgage interest rate stayed below the average of 2.25% in 2019. In response to the pandemic, the base rate was decreased in March 2020 from 0.75% to 0.10%. While retail and central bank funding remained readily available in 2021, the demand for UK wholesale funds remained comparatively moderate.
With approximately USD 3.68 billion in public issuance and an additional USD 7.35 billion in bonds issued but kept by their issuer for use as collateral, UK-covered bond issuance resumed in 2021. By the end of the year, there had been a net reduction in bonds outstanding of another USD 6.13 billion due to maturities of USD 17.16 billion, bringing the total down to roughly USD 99.28 billion. The Bank of England raised its basic interest rate to 4% on February 2, 2023, the highest level in 14 years. Inflation is being combated by raising interest rates, which are at a 40-year high in the UK right now. There might be more base rate rises over the coming months. Mortgage rates would typically rise as a result; however, many fixed and variable arrangements have seen their rates decline recently. This is partly because of a price correction that followed the rate increase following the September mini-budget, but it's also because lenders are competing for business. Despite the fact that mortgages will often become more expensive during periods of fast inflation and rising energy prices, Many homeowners may find it difficult to afford their homes since they are feeling the pressure.
UK Loan Broker Market Trends
The Future of Mortgages in UK is Being Reshaped by Digitization
Online banking, remote jobs, and internet communication forced customers to conduct business digitally. This enormous transition to digital, which started a digital transformation that isn't likely to slow down, had an impact on the mortgage industry. Along with the benefits that digital processes provide, a number of other factors also play a role in the surge in demand for an online mortgage process. The first is that millennials make up the bulk of those who are currently purchasing new homes. Because they were raised with smartphones and laptops, these customers demand a digital experience for everything from house searches to mortgage closings. Even though every generation is using digital platforms more and more, lenders must remember that younger generations of consumers are more technologically savvy than previous generations of customers.
Housing Market Development Drives UK Mortgage Market Demand
Since the start of 2022, mortgage approvals in the UK decreased, but they decreased even more recently. With 35,612 approvals, December 2022 saw the fewest mortgage approvals in more than a year. Since July 2021, when there were more than 76,000 mortgage approvals, this has decreased by a little over 50%. When lockdown limitations were at their strictest, in May 2020, the rate of mortgage approvals in the UK likewise decreased. When sanctioning loans for prospective buyers, the Bank of England adopted a tighter policy. Approvals fell to just 9,435 as a result of this and a higher unemployment rate (which reduced the number of people who qualified for mortgages). According to data from 2019, 65.1% of people in the UK are homeowners, mortgage or no mortgage. This indicates that 65.1% of UK residents are homeowners, whether or not they have outstanding debts or mortgages. Homeowners in the UK who have mortgages or loans makeup 37.5% of the population. In the UK, there are 27.6% of homeowners who do not have any unpaid loans or mortgages.
UK Loan Broker Industry Overview
The UK Mortgage / Loan Broker market is moderately fragmented with some dominating players like Lloyds Banking Group. The main competitors in the Europe mortgage/loan broker business are covered in the research. Loan brokers face intense competition since they depend on their relationships with the best real estate agents and lenders in the communities they cover. Some major players in the market are Lloyds Banking Group, NatWest Group, Nationwide BS, HSBC Bank, and Virgin Money.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitutes
4.4.5 Intensity of Competitive Rivalry
4.5 Insights of Technology Innovations in the Market
4.6 Insights on Government Regulations and Industry Policies
4.7 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Enterprise
5.1.1 Large
5.1.2 Small
5.1.3 Mid-sized
5.2 By Applications
5.2.1 Home Loans
5.2.2 Commercial and Industrial Loans
5.2.3 Vehicle Loans
5.2.4 Loans to Governments
5.2.5 Other Applications
5.3 By End- User
5.3.1 Businesses
5.3.2 Individuals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Lloyds Banking Group
6.1.2 NatWest Group
6.1.3 Nationwide BS
6.1.4 HSBC Bank
6.1.5 Virgin Money
6.1.6 Santander UK
6.1.7 Barclays
6.1.8 Coventry BS
6.1.9 Yorkshire BS
6.1.10 TSB Bank*
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security