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Mortgage market 2018 outlook

Mortgage market 2018 outlook

Is Mortgage Lending Likely To Increase In 2018?
Are You Looking To Move Home Or Remortgage Within 12 Months?
Landlords & Impact Of Tax Changes On Buy To Let Mortgages.
Factors That May Affect Mortgage Lenders Activity In 2018.


If you are thinking about buying a house in 2017 or maybe waiting until 2018 it`s not an easy decision. Especially as we have seen in the past people who try and predict the market can get it quite wrong. However it is important to get some feel for where the UK mortgage and remortgage market is deemed to be.

The Council of Mortgage Lenders (CML) has already issued predictions for the UK`s mortgage market in 2018, which is looking quite similar to how it has been over the past couple of years.

At the end of 2016, the CML, as the council is often known, downgraded its growth forecast for mortgage lending in 2017, with its director general explaining that he thinks the market will plateau until at least 2018.

This therefore suggests that some growth in purchasing activity and lending could be seen in 2018, but with Brexit negotiations ongoing and an unexpected general election dominating 2017, only time will tell how the mortgage market will fare in the near future. These are big variables and it makes it very difficult to estimate their impact.

The CML predicts that the number of people buying new homes in 2018 will be slightly lower than the peaks seen in 2014 and 2015, but will be a similar level to the one recorded throughout 2017.

Buy to let purchasing activity is expected to follow a similar trend, with experts believing that the peak for this was seen in 2015. However First Choice Finance believe that second property stamp duty hikes in and the staged reduction in private landlords mortgage interest tax relief will slow the buy to let market. The good news there is that this could help with first time buyer activity as smaller scale landlords sell off property at the lower end value range which gives entry points for new home buyers in the UK. There is also the potential that Brexit could cause a short to medium term economic shock to the market and drive prices down slightly for the first time in a goodly while.

This slight overall expected decline in activity does mean that the stock of mortgage debt may then grow at a slower pace than it has been doing, with its growth rate anticipated to come in at two per cent over the course of 2018.

More predictions for the mortgage market for 2018 are expected to follow over the coming months. In the meantime, make sure to always seek professional financial advice from experienced advisers before taking out a new mortgage.

Homeowner Secured Loans
Rates From 7.1% APRC Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property. First Choice are tied to certain loan providers.

Mortgages & Remortgages
4.5% APRC
Representative Example: Borrow £80,000 over 25 years At 4.6% Variable, £461.95 for 300 months.
Total Payable £138,585. Total Cost Of Credit £58,585 (incl £1360 fee).

Unsecured Personal Loans
First Choice are tied to certain unsecured lenders.

Security is required on immovable property.

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home

First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014-2018.

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