IMLA Publications

• Younger generations are struggling to attain the financial security that most of their parents enjoyed
• There has been a marked reduction in homeownership rates among younger households compared to the rates seen in earlier generations
• High house prices is not the main cause of the fall in first time buyer numbers
• The long term cost to consumers of not purchasing a home is extraordinary
• As well as the generational divide we need to remain mindful of the housing divide
• IMLA calls for a cost benefit analysis of the current regulatory regime for mortgages which takes account of the cost to consumers who have failed to enter owner-occupation because of the additional hurdles they face accessing mortgage finance because of tightened regulation.

• Brexit represents a momentous economic change for the UK and huge uncertainties are associated with it.
• Mortgage lenders hope that our departure from the EU can be an orderly one.
• But the odds of a disorderly no deal Brexit, with adverse short-term consequences for the wider UK economy, have shortened over recent months.
• Policy-makers have extensive tools to mitigate any adverse effects in the housing market and are likely to deploy them.

• The ongoing recovery of real earnings has helped to offset some of the negative
  sentiment arising from Brexit uncertainties.
• Housing market activity and property prices are flat, broadly speaking, across
  much of the country. First-time buyer numbers continue to rise modestly,
  underpinned for the time being by a strong jobs market and competitive
  mortgage deals.
• Levels of remortgaging are high, but there are early signs of waning borrower
  demand and limits to how much more intense competition between mortgage
  lenders can be.
• The market may enjoy a temporary “Brexit bounce” when the UK agrees a
  transition deal with the EU, but market fundamentals may dictate a quieter
  period down the track.

This article was originally published on 14th May in Mortgage Introducer

This article was originally published on 14th May in Mortgage Introducer

This article was originally published on 5th May 2019 in Mortgage Solutions

• The housing market has not been immune from the wider Brexit uncertainties adversely affecting the UK
• This, together with growing job insecurity, has sapped household confidence and weighed down on housing market activity and property prices
• Mortgage credit terms and availability remain mostly favourable, however, and, once there is a degree of clarity about the UK’s future relationship with the European Union, we could see a bounce-back as pent-up demand is released.

This article was originally published on 7th February 2019 in Mortgage Introducer.

The sixth in our series of annual reports looking at the outlook for the UK mortgage market in the coming year.

Response by the Intermediary Mortgage Lenders Association

This article was first published on 19th January in Mortgage Solutions

IMLA responds to proposals to increase the FOS award limit.

Digitisation and advances in computing power are reshaping numerous industries. In travel, entertainment and retail the structure of the industry and the key providers have been fundamentally altered by the digital revolution. Retail financial services has also seen transformation in products such as current accounts and insurance. In mortgages change has been slower to come but both back office processes and distribution are in the process of being dramatically reshaped.

This article was first published on 5th December in Mortgage Finance Gazette.

IMLA comments on proposals set out in DP 18/5, and provides responses to specific questions.

This article was first published on 23rd October 2018 in Mortgage Finance Gazette.

As homeowners age at a faster rate than the UK population, developments in post-retirement lending are putting a strain on the current model of financial advice, with the need to serve a growing population of older homeowners producing a new generation of mortgage products. In its latest report, IMLA calls on UK financial advisers to break down the silos between pension and mortgage advice, and offer a more holistic service to keep up with the pace of product innovation.

Bob Pannell looks at the impact of a potential Bank base rate rise this year on mortgage borrowers. Published in Mortgage Finance Gazette: https://www.mortgagefinancegazette.com/uncategorised/mortgage-borrowers-higher-mortgage-rates-06-06-2018/

This article was first published on 21st May 2018 in Mortgage Strategy

A guide to the requirements of the GDPR, which comes into force on 25th May 2018: this guide is designed to be helpful to lenders and intermediaries, and to complement the guidance issued to its members by the AMI.

Bob Pannell discusses how net lending levels serve useful barometer for the underlying health of our mortgage market, as published in Financial Reporter:
http://www.financialreporter.co.uk/features/approaching-the-limits-to-lending-growth.html

The fifth in our series of annual reports looking at the outlook for the UK mortgage market in the coming year.

The latest figures confirm that there were about 366,000 first-time buyers in the UK in 2017. This is a positive outcome, in a year when overall property transactions eased back a little. First-time buyers now account for 30% of overall housing market activity.

This article was first published on 26th February 2018 in Mortgage Solutions

Looks at the impact which a plethora of tax and regulatory changes have had on the buy-to-let mortgage market and the wider implications for the private rented sector.

Examines lenders’ increasing confidence in lending on new-build property, together with the impact of the Help to Buy equity loan scheme.

Charts the rise, fall and resurgence of specialist lenders and the emergence of “challenger” banks.

The fourth in our series of annual reports looking at the outlook for the UK mortgage market in the coming year.

Summarises the views of leading figures from four mortgage intermediary firms and four mortgage lenders about how they see the current state of the intermediary/lender relationship and how this might evolve in the future.

Analyses whether the market is delivering appropriate access to credit, together with sufficient competition and transparency for consumers.

An industry guide to lender and intermediary accountabilities and responsibilities in mortgage sales and servicing: updated to take account of the Mortgage Credit Directive

Argues for a more joined-up approach to UK housing policy.

The third in our series of annual reports looking at the outlook for the UK mortgage market in the coming year.

Charts the changing pattern of intermediated and direct mortgage business pre-and post- the financial crisis.

Examines the key issues facing the main segments making up today’s mortgage market: buy-to-let, first-time buyers, home movers, re-mortgagers, lifetime mortgages and further advances.

Analyses the cost of the regulatory changes brought in following the financial crisis and the impact these have had on the efficiency of the financial system and on the wider economy.

The second in our series of annual reports looking at the outlook for the UK mortgage market in the coming year.

December 2014–January 2105 research

Summarises the key agendas for the political parties and politicians to address during the election campaign.

Joint response by the Council of Mortgage Lenders and the Intermediary Mortgage Lenders Association to the Financial Conduct Authority Consultation Paper CP 14/28

A response by the Intermediary Mortgage Lenders Association

Looks at the impact of the financial crisis on non-standard borrowers: the self-employed, those with adverse credit, those borrowing into retirement and those with complex financial affairs.

Q3 2014 research

Examines the housing and mortgage markets and the likelihood of the Bank of England using its new macro-prudential powers to curb the latter.

An industry guide to lender and intermediary accountabilities and responsibilities in mortgage sales and servicing: updated to take account of the Mortgage Market Review

Analyses the growth in the proportion of private rented sector properties being acquired without a mortgage.

The first in a series of annual reports looking at the outlook for the UK mortgage market in the coming year.

January 2014 research

July 2013 research

Contributes to the discussion between government and the industry about the future operating basis and assumptions for the UK housing market, and whether current government support for the housing and mortgage markets will move both forward on a stable and sustainable basis.

July 2012

Q4 2011

An industry guide to lender and intermediary accountabilities and responsibilities in mortgage sales and servicing