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Existing Mortgage Holder Mortgages 2019: Consumer Research Report - ResearchAndMarkets.com

November 13, 2019

DUBLIN--(BUSINESS WIRE)--Nov 13, 2019--

The “Existing Mortgage Holder Mortgages 2019: Consumer Research Report” report has been added to ResearchAndMarkets.com’s offering.

This research indicates that most existing mortgage holders (EMHs) are very likely to engage in some mortgage-related actions in the next three years.

The most common action to be taken in the next three years is debt adjustment or restructuring, encompassing remortgaging and paying off all or part of the mortgage debt.

Almost half of EMHs (46%) are planning some form of debt readjustment (i.e. remortgaging the current home - 24% - making a significant lump-sum mortgage repayment but still owing money -15% - and making a final monthly payment or making a lump sum payment to pay the mortgage off - 14%). Just under one-third of EMHs are planning to move home and take out a new mortgage (22%) or port an existing mortgage (13%).

The likelihood of engaging in new mortgage activity is closely related to the social grade, peaking among the AB social grade and being the lowest among the DE social grade. Mature EMHs are the most focused on either undertaking no activity in the coming three years or taking actions to reduce and finally end their mortgage. Clearly, their prime focus is reducing their mortgage debt, i.e. continue repayments as normal, pay off a lump sum or end the mortgage. It is mainly younger EMHs who intend to purchase a property. EMHs planning to remortgage tend to be typical of all EMHs in terms of age, income and other characteristics

The findings in this report are based on a survey developed by the author, with the interviews conducted by MIS Group. Interviews were conducted among 1,109 individuals who currently own their own homes and are paying for these with a mortgage. The research was conducted in September 2019.

Among some of the other findings from the report are:

This report aims to give clients a crucial insight into the current mindset of individuals who currently own a mortgage, some of whom may be planning to take out a new mortgage product over the coming three years. A key aspect of this report is to study how those planning a future mortgage application will approach their customer journey.

It will also contrast and compare existing mortgage holders (EMHs) who are likely to take out a new mortgage in the future and those who will not, and it will identify potential opportunities for relevant providers to grow their business. The report will further explore what mortgages EMHs have and where they may seek advice.

Key Topics Covered

1. Executive Summary

2. Introduction

3. Background

4. EMH Strategies: Getting Professional Help

5. The Mortgage Customer Journey: The Pinch Points

6. Making It Easier For EMHs

7. Improving The Product Offer

8. Keeping Your Customers Engaged

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/sg2c91

View source version on businesswire.com:https://www.businesswire.com/news/home/20191113005667/en/

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INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 11/13/2019 11:59 AM/DISC: 11/13/2019 11:59 AM

http://www.businesswire.com/news/home/20191113005667/en