UK Mortgage Advice Market: Steady Growth in Online Consulting Creating Opportunities

Posted on 2018-05-10 by Mark Hub in Financial // 0 Comments

Albany, US, 2018-May-10 — /EPR Network/ —A new business intelligence study, titled “Mortgage Advice-UK-April 2018” has been added to the comprehensive repository of Market Research Hub (MRH). The report studies the mortgage advice landscape in detail, and offers holistic analysis and insights on the key developments that are shaping the UK mortgage advice market.

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According to the report, innovation in technology, such as ubiquity of smartphones and growing internet penetration in the UK has led many agencies to offer online mortgage advice. Although online mortgage advice is cheaper and time-saving, consumers are skeptical whether such a mode of communication is appropriate for making a big investment as mortgage. Due to these factors, mortgage consultants are recommended to enable a provision of in-person consulting for instances where consumers require more information or are not completely convinced with the information.

The research report is a holistic piece of information and analysis that offers readers detailed insights and analysis on the mortgage consultancy landscape. An overview of the market has been provided, however, the report also offers insights and analysis on the subtle and nuanced factors impacting this landscape. According to the report, the business of mortgage consulting continues to be important, as a significant percentage of all mortgages are sold on the basis of consulting.

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The total number of advised mortgage sales has increased by nearly 4%, whereas intermediary mortgages are steadily gaining acceptance among consumers. The report projects lending to grow by nearly 27% by the end of 2022. Sensing the opportunities in the UK mortgage advice market, key players have started to invest in online consulting services. Incorporation of clear video calling services have made it possible for players to communicate effectively with their target audience.

The report also studies the attitudes of young consumers towards mortgage advice in detail, and offers an analysis on the likely impact on the market. According to the report, the attitude towards home-buying among young consumers can pose a challenge to the mortgage advice market in the UK. Also, growth in the number of sites and blogs that offer all the information for free can also pose challenges for professional consultants and advisers.

The key factors driving the mortgage advice market in the UK include slowdown in the house price growth in 2017 and continuous rate changes in the market. Consumers are looking for credible and accurate information so that they can get the best deal on their mortgage. Considering the importance of mortgage as a financial decision, mortgage advisers need to take into account the importance of trust in their business.

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