Mortgage market predicted to ease during 2022

Mortgage market predicted to ease during 2022

Gross mortgage lending will fall to £275bn this year, down from the £304bn reached in 2021 and signal a return to some semblance of normality in the market, according to predictions made by IMLA.

In last year’s report, IMLA forecast gross mortgage lending of £283 billion for 2021, a surprise to many commentators but ultimately close to the true final total of £304 billion, the best performance for the industry since 2007. IMLA estimates that the total value of housing transactions reached a record of nearly £370 billion in 2021. However, the 2022 New Normal report predicts a decrease in gross mortgage lending to £275 billion this year, with a further fall to £265 billion in 2023. To continue reading, please Click Here


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