Page 27 - Redbrik: Property and marketing Autumn/Winter 2019
P. 27

                 TOP 10 MORTGAGE LENDERS:
• The UK’s top ten mortgage lenders lent a staggering £211.3 billion in 2018, increasing their market share to 78.7 per cent, up from 77.1 per cent in 2017.
Clydesdale Bank plc
Virgin Money
Yorkshire Building Society
Coventry Building Society
Source: dataloft / UK FINANCE, 2019
Lloyds Banking Group
Nationwide Building Society
Royal Bank of Scotland
Santander UK
Barclays Bank
of homeowners citing this reason. Those buying with a mortgage are even more strongly motivated by larger homes.
            • If included, the ‘Bank of Mum and Dad’ would have taken 10th position. According to Legal and General, parents and family members lent
£6.3 billion to loved ones in 2018.
• Figures from the Bank
of England indicate mortgage approvals for the first half of 2019 are
1.1 per cent higher than
a year ago, with lending virtually unchanged. The current average mortgage rate is at an historic low of just 2.43 per cent.
                          WHY DO EXISTING HOMEOWNERS MOVE HOUSE?
• Younger owner-occupiers are more likely to be looking for their next home than older households.
6.7 per cent of 25 to 34-year-old homeowners
and 6.8 per cent of 35-44 year-old homeowners are expecting to move in the next six months compared to just 1.6 per cent of over 65-year-olds.
Moving to a larger property is the most popular reason why homeowners expect to move, with 37 per cent
 Larger house/flat
 Other reason
 Closer to family or friends
 Better neighbourhood
 Better schools
 Nicer accommodation
 Cheaper house/flat
   Smaller house/flat
 New job/more work
  Source: dataloft / Survey of English Housing. Respondents could choose more than one option, so percentages do not add up to 100 per cent
None of these

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