Gain a Grasp of the UK Mortgage Market as It Continues to Become More Flexible.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c34178) has announced the addition of Direct Mortgages Market Assessment 2006 to their offering The UK mortgage market continues to be extremely competitive. It is providing consumers with cheaper mortgages, increased flexibility and product range, and more choice in how to buy a mortgage. The market is also broadening, with subprime borrowers now able to choose from a range of large providers for a mortgage, due to a wave of new niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. entrants and the diversification of traditional lenders in the market. The mortgage market is now subject to detailed regulation by the Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. (FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) ), following the mis-selling of endowment mortgages endowment mortgage n → hipoteca dotal endowment mortgage n → hypothèque liée à une assurance-vie endowment mortgage n → and a reduction in consumer trust. In 2005, many provider and independent financial adviser (IFA Immunofluorescent assay (IFA) A blood test sometimes used to confirm ELISA results instead of using the Western blotting. In an IFA test, HIV antigen is mixed with a fluorescent compound and then with a sample of the patient's blood. ) staff had yet to meet the standards of financial advice that the FSA expects. Principles of clarity, transparency and products that fit the borrower's circumstances are prime aspects of the new regulations. The provision of clear terms of business and comparable offers should make it possible for consumers to reduce the costs of their preferred product to a minimum. Mortgage providers generally offer the same products through indirect and direct channels, while some have become pure direct or indirect operators to reduce their costs and improve margins. The impact of technology will improve the efficiency of the market. Telephone-mediated mortgages experienced an increase in popularity during the late 1990s, but it is likely that this channel has not expanded much in recent years. Internet-mediated sales have not fulfilled the expectations of early innovators innovators people who will try new things. early innovators important figures in the farming or client community because they are the leaders in the introduction of new techniques and management systems. , and currently are only offered by a small number of firms. However, sales through branches have held up. This might be related to the extensive process of applying for and processing mortgages, and to the variety of products that may confuse the applicant. In this report, we consider the likelihood of a long-term fall or rise in house prices, and the future of the housing market. Companies Mentioned: - Abbey National Plc - Barclays Bank Plc - Bradford & Bingley - EGG - HBOS HBOS Halifax Bank of Scotland - Lloyds TSB Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. Group Plc - Nationwide Building Society - Northern Rock For more information visit http://www.researchandmarkets.com/reports/c34178 |
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