RFi Group’s Reports investigate and reveal the very latest in customer reactions to current financial conditions affecting them due to Covid 19. This provides financial institutions with unique data driven insights into how to most effectively design their strategy and meet their customers’ needs.
14 June 2020: In March, April and May of 2020 - as the Covid-19 global health pandemic unfolded - RFi Group surveyed more than 4,000 UK consumers in order to forecast the immediate impact on mortgage borrowers, and their lenders, over the next 12-24 months.
Significant results were uncovered.
About the report
RFi Group’s “UK Mortgage Deferral Hangover” report combines expert insight with RFi’s unique data on the impact of the Covid-19 pandemic to determine how many borrowers will be affected in the United Kingdom and for how long.
This is a must-read report for all financial service professionals.
/ 1 in 5 UK consumers are facing mortgage stress
/ 46% of UK consumers believe that now is not a good time to buy a home (twice as many as following the 2008 global financial crisis)
/ April 2020 saw a record low of 15,800 mortgage approvals across the UK, an 80% drop from February - and re-mortgaging has decreased by 34%
/ More than 1.82 million UK mortgage borrowers have been granted a payment holiday (1 in 6 mortgages)
/ 23 million UK consumers expect to be impacted financially by the COVID-19 pandemic
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RFi Group is a global data-driven insights provider exclusively focused on financial services. We specialise in data and information gathering, customer-based insight generation and business decision support for the world’s leading financial service providers, as well as challengers, disruptive market participants and companies aligned to the FS sector.
We combine global intelligence and local knowledge to provide insightful, valuable and actionable recommendations, with a core focus on the provision of exceptional client service.
Covering 48 key global markets, with regional offices in Toronto, London, Singapore and Sydney RFi Group consistently provides clients with tailored advice and insights relevant to their specific market and business needs.