Taking out a mortgage is the single largest financial transaction undertaken by most adults and still remains the single most important method of tenure in the UK.
This is the second mortgage report produced by YouGov SixthSense. Compared with the previous report, this edition has more emphasis on the customer's journey through the mortgage market and looks more closely at mortgage switching and adjustment. It also analyses key mortgage providers and considers how consumers perceive them.
Over 20 questions were asked in total, covering the following topics:
- Type(s) of mortgage owned, if any
- How long current fixed rate mortgage deal runs
- Actions to adjust or change mortgages taken over the past five years and why these actions were taken
- Contacts made with mortgage providers over the past two years, the reasons for the contact and the means of contact
- Preferred means of contacting a mortgage provider
- How long current mortgage/mortgage deal been held
- When first mortgage deal taken out
- How much is still owed on mortgage(s)
- Estimated value of the main home
- How much is paid each month in mortgage repayments
- How long mortgage holders have lived in their current home
- With which provider is the main mortgage held
- What mortgage holders think of their mortgage providers
- Main criteria used to judge mortgage providers
- How are mortgages arranged
- How often mortgage holders search for a better mortgage deal
- How mortgage holders judge their current mortgage deal
- How well mortgage holders understand the mortgage policy they currently own
- Sources of information consumers would use to search for new mortgage deals.
Methodology
For thsi report YouGov conducted an online survery of a nationally representative sample of 2,958 GB adults aged 18+.
