While UK national mortgage markets are similar, there are important differences among them. Such differences are crucial for lenders to assess their own performances against as well as take advantages of future opportunities. Indeed, the housing market, the extent to which the lack of affordability is an issue, and competition among lenders all differ across national mortgage markets.

Scope

Discusses the key ways in which UK national markets differ, in terms of competition, the housing market, and government initiatives, among others. Provides forecasts for each constituent country's housing market up to 2011. Identifies the differences in competition between lenders in each national market.

Highlights

The housing market performed far more strongly than anticipated in 2006. Yet each national market performed differently; Northern Irish house prices continue to catch up with the UK mainland and Scottish house prices continue to perform strongly, while England and Wales are seeing comparatively slower growth. The lack of affordability has become one of the major overarching issues in the UK mortgage market. Northern Ireland has now taken over England as the country with the least affordable house prices, yet house prices have recently become increasingly difficult to afford in Wales, while affordability remains somewhat better in Scotland. There are fewer active lenders in Northern Ireland compared to the other national markets. This can partly be attributed to its small size, the different conveyancing processes, and possibly the lack of familiarity with them amongst lenders. However, the mortgage market in Northern Ireland is becoming increasingly more competitive.

Reasons to Purchase

Gain a thorough understanding of the dynamics affecting each constituent country. Understand where the opportunities lie in regards to each national market. Incorporates primary interviews from industry experts and secondary data from a wide range of sources.