Podcast #117 - UK Mortgage Market: Year in Review and Forecasts for 2025

Added 24/02/25 - 1 min read

In the latest episode of the Accord Growth Series podcast, host Jeremy Duncombe, Managing Director at Accord Mortgages is joined by industry experts Rob Thomas, Principal Researcher at the Intermediate Mortgage Lenders Association (IMLA), and Charles Roe, Director of Mortgages at UK Finance. Together, they dive into the unexpected resilience of the UK mortgage market in 2024 and provide insightful forecasts for 2025.

2024 was a year marked by surprising stability and growth in the UK mortgage market. Despite challenging economic conditions and fluctuating interest rates, the market achieved a remarkable £242 billion in outcomes, driven by robust new purchase lending and increased buy-to-let activity. With interest rates easing mid-year, the market defied expectations, paving the way for cautious optimism as we look towards 2025.

In this episode, our guests explore the intricate dynamics of fluctuating rates, inflation, wage growth and their implications for the mortgage market. Charles and Rob share their perspectives on potential interest rate adjustments in 2025 and discuss the impact of global political influences and domestic economic trends on the housing sector. They also highlight the challenges and opportunities within the buy-to-let market amidst evolving tax policies.

The conversation then turns to potential regulatory shifts, such as changes to loan-to-income ratios and affordability tests, which could significantly alter lending practices. This nuanced discussion offers a comprehensive view of the evolving UK mortgage market landscape, where expert insights meet real-world implications. For mortgage brokers, this episode is a must-listen to navigate the challenges and opportunities that lie ahead.

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01:45 to 34:32