Posted 12/25/2023, 6:00:00 AM
Mortgage Market Forecast: Lending Slump in 2024, But Recovery Expected in Late Year
- Mortgage lending expected to slump in 2024, arrears and repossessions to increase
- Expert predicts mortgage market will perform "better than forecasted" in 2024
- First-time buyers and remortgaging activity expected to pick up in late 2024
- Mortgage arrears forecast to rise from 105,600 cases in 2023 to 128,800 in 2024
- Repossessions seen increasing slightly from 4,400 in 2023 to 5,100 in 2024