英国房屋贷款市场

Abstract

Introduction

With funding remaining an issue and consumers continuing to be saddled with significant amount of debts, the UK mortgage market promises to be very challenging in 2008. In particular, customer acquisition remains a testing area and understanding the preferences of future mortgage customers will provide useful insight to lenders when designing their acquisition and distribution strategies.

Scope of this report

• Draws upon Ipsos MORI data to provide insight into the behavior of future mortgage customers.
• Analyzes the data by age groups and household income bands where relevant.
• The data was collected during 2007 at four different points in timeFebruary, May, August and Novemberand presented as 2007 as a whole.

Research and analysis highlights

While on the whole, 11% of respondents stated they might consider taking out, topping up or changing their mortgage in the next five years, further analysis of the data highlights that this proportion increases to 18% for the 1829 year old age group and the 3044 year olds.

Unsurprisingly, traditional organizations such as building societies and banks are the preferred organization types by consumers when considering taking out a mortgage with 75% and 72% of responses respectively.

When taking out a mortgage, more than a third of consumers would choose the internet over face-to-face to find information about the product.

Key reasons to read this report

• Gain access to consumer data to understand the future behavior of mortgage customers and adapt your customer acquisition strategies accordingly.
• Learn who are the lenders consumers are most likely to take a mortgage with in the future.

Table of Contents

DATAMONITOR VIEW

• CATALYST
• SUMMARY

ANALYSIS

• 11% of consumers might take out, top up or change their mortgage in the next five years
  • General insurance products were the most mentioned products but mortgages received significant mentions too
    • Consumers falling in higher household income bands are more likely to consider taking out, topping up or changing their mortgage
• Consumers would most likely consider traditional providers when taking out a mortgage
  • Building societies and banks are by far the preferred types of mortgage providers by consumers when considering taking out a mortgage
    • Consumers are more likely to consider major mortgage lenders when taking out a mortgage
• Consumers would mostly use face-to-face and the internet to find information about a mortgage
  • 67% of participants mentioned they would speak to someone face-to face
  • The internet is also a popular method for seeking out information
    • When taking out a mortgage, more than a third of consumers would choose the internet over face-to-face to find information about the product
• Consumers would most likely approach IFAs when seeking out information on a mortgage
  • 53% of participants mentioned IFAs
    • More than a quarter of consumers would seek advice from their friends, family and colleagues
• Unsurprisingly, most consumers would use face-to-face when arranging a mortgage
  • 76% of consumers will use face-to-face to arrange a mortgage
  • The majority of consumers would never consider digital TV when arranging a mortgage

APPENDIX

• Supplementary data
• Methodology
• Further reading
• Ask the analyst
• Datamonitor consulting
• Disclaimer

List of Tables

• Table 1: Which of these types of organizations, if any, would you consider/never consider when taking out a mortgage with?
• Table 2: Responses for Northern Rock to the question ' which four or five of these companies would you consider taking a mortgage with?
• Table 3: When taking out a mortgage, which of these methods, if any, would you use to find information about this product?

List of Figures

• Figure 1: More than 10% of respondents stated that they might either take out a mortgage or top up or change their existing mortgage in the next five years
• Figure 2: Participants in higher household income groups are more likely to take out/top up/change mortgage product in the next five years
• Figure 3: Banks and building societies are most likely to be considered by consumers when choosing a mortgage than other types of organization
• Figure 4: Consumers are most likely to consider major mortgage players such as HBOS and Abbey when taking out a new mortgage
• Figure 5: Northern Rock' s popularity among the survey participants fell dramatically after September 2007
• Figure 6: Face-to-face and the internet are the two most popular methods for seeking information on a mortgage product
• Figure 7: While 52% of participants would speak to someone face-to-face when taking out a mortgage to find information about the product, 36% will opt for the internet
• Figure 8: IFAs are more likely to be the point of contact for consumers when seeking out information about their mortgage
• Figure 9: Face-to-face remains the preferred method by consumers for arranging a mortgage
• Figure 10: The majority of consumers would never consider digital TV when arranging a mortgage