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Do you expect to see less or more second charge mortgage lenders in 2018?



Gross lending expected to exceed £365bn


AMI

The Association of Mortgage Intermediaries (AMI) has predicted that gross lending in 2018 is likely to supersede 2007’s peak of £365bn.

In its Quarterly Economic Bulletin, the AMI said that it expected the split to be broadly £270bn in gross residential mortgage lending across purchase, remortgage and further advance.

The Association highlighted that there was a further £140bn in product transfer lending, where borrowers remained with their existing provider, but refinanced to a new deal.

“We are pleased to note an increase in appetite to lend to the self-employed, even among more mainstream lenders,” said the Association.

“The balance of lending is increasingly healthier with recently underserved customer profiles now being given more choice.”

The AMI considers that there will be two base rate rises by the end of 2019, with the next rise expected in 2018.

“While this will put pressure on some household finances, it would necessitate the easing of affordability stress testing requirements by the banks.”





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