Mortgage lending is set to rise again in 2018, marking theeighth consecutive year of rising lending. Gross mortgage lending is currently the highest it has been since 2007, and is forecast to reach a net value of £265 billion. The Intermediary Mortgage Lenders Association (IMLA) also describes that the homeowner demographic in the UK is changing, with the average homeowner age increasing from 52 (1996) to 57 (2016), and that 76% of all homeowners in 2016 were 45 years or older. The IMLA notes that this change in demographic is an important status change in the homeowners market, and will need to be monitored by the government in the years to come.
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