{"id":6472,"date":"2025-06-17T12:30:46","date_gmt":"2025-06-17T11:30:46","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=6472"},"modified":"2025-06-17T12:31:22","modified_gmt":"2025-06-17T11:31:22","slug":"uk-mortgage-market-strengthens","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2025\/06\/17\/uk-mortgage-market-strengthens\/","title":{"rendered":"UK mortgage market strengthens"},"content":{"rendered":"
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Home purchases rose annually by 15.6% in 2024, driven by lower mortgage rates.  <\/td>Remortgaging declined in 2024 but could rise, with 1.8 million deals expiring in 2025. <\/td>The upcoming regulatory may ease lending restrictions and help buyers onto the property ladder.  <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n
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First-time buyers and home movers gave the UK mortgage market a much-needed lift towards the end of 2024, according to UK Finance<\/strong>1<\/sup><\/strong>. Home purchases reached 622,000 in 2024, up 15.6% on the previous year. Lower mortgage rates boosted demand, particularly in the fourth quarter, as buyers sought to complete before April\u2019s Stamp Duty changes.<\/strong> <\/p>\n<\/div>\n\n

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However, remortgage activity fell by 9% to 1.6 million, as fewer fixed-rate deals came to an end. That trend could reverse in 2025, with 1.8 million mortgages due to expire. Most borrowers remortgage with their current lender, though UK Finance expects more to switch providers this year. <\/p>\n<\/div>\n\n

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Mortgage regulations under review<\/strong> <\/h2>\n<\/div>\n\n
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High house prices and tight lending criteria have made it challenging for buyers, especially in London. Since stricter rules were introduced in 2014, getting a mortgage above 4.5 times salary has become more difficult. First-time buyers in London need deposits worth more than 2.5 times their annual income, up from 1.9 times pre-2014. <\/p>\n<\/div>\n\n

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Eric Leenders of UK Finance welcomed plans for the Financial Conduct Authority to simplify mortgage lending and advice rules. He said, \u201cThe strong end to 2024 highlights the resilience of UK households. But affordability remains a challenge, particularly in London. The upcoming regulatory review could ease lending restrictions and help more people onto and up the housing ladder<\/em>.\u201d <\/p>\n<\/div>\n\n

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1<\/sup>UK Finance, 2025 <\/p>\n<\/div>\n\n

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It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Home purchases rose annually by 15.6% in 2024, driven by lower mortgage rates.   Remortgaging declined in 2024 but could rise, with 1.8 million deals expiring in 2025.  The upcoming regulatory may ease lending restrictions and help buyers onto the property ladder.   First-time buyers and home movers gave the UK mortgage market a much-needed lift towards […]<\/p>\n","protected":false},"author":4,"featured_media":6473,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/6472"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=6472"}],"version-history":[{"count":6,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/6472\/revisions"}],"predecessor-version":[{"id":6479,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/6472\/revisions\/6479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/6473"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=6472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=6472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=6472"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=6472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}