News


13

Aug 2021

BTL gross mortgage lending falls by 12% in 2020 under the impact of COVID-19

Buy to let mortgage market under COVID-19 The IRN Research Report Targeting Buy-to-Let Landlords 2021 found that gross BLT mortgage lending declined by almost 12% in 2020. Recent legislative and tax changes have had a negative impact on the BTL market from 2016 onwards and these negative forces were compounded in 2020 by the COVID-19 pandemic. However, the market is expected to see a recovery...

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05

Aug 2021

Some improvement in personal injury market in 2021/22 but still uncertainty for many firms

Value growth in the personal injury (PI) market stalled in 2020 as the pandemic hit claims numbers and revenues for many firms while cashflows were impacted by delays in completing cases.  There was a 1.5% decline in market value in 2020 although larger PI firms performed much better than the rest of the market. The last 12 months have seen the divide between the larger...

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26

Jul 2021

18% of insurance consumers make COVID-related adjustments

COVID-19 changes consumer insurance behaviour 18% of consumers who currently own any type of insurance either cancelled a policy or switched to cheaper alternatives because of the COVID-19 pandemic. These findings come from the IRN Research report, The Insurance Consumer 2021. As a result of these changes, the amount consumers in total spend on general insurance produces declined by around 6% in 2020, compared with...

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14

Jul 2021

Gross mortgage lending to FTBs falls by 7% in 2020

Number of new mortgages taken our down by almost 13% COVID-19 has had a major impact on the market in 2020/21, deterring some FTBs from buying a home but also leading the Government to introduce a Stamp Duty holiday, which encouraged strong buying demand ahead of the ending of the holiday. In 2020, IRN Research estimates that first time home buyers (FTBs) borrowed 7.2% less...

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14

Jul 2021

Legal Services for SMEs Report – increasing demand from SMEs for legal advice

SMEs have a wide and varied range of legal needs and almost half have regular needs, i.e. a legal issue at least once a month.   These legal needs are addressed in numerous ways: law firms and solicitors are the main source of legal advice but they are only used by a third of SMEs in this survey reflecting the competitive nature of this particular...

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30

Jun 2021

Medico-Legal and Insurance Services Market hit by COVID-19

RN Research's Medico-Legal and insurance Services Report 2021, shows that the COVID-19 lockdowns caused a significant decline in personal injury case numbers and a significant slowdown in personal injury case progression, leading to a decline in the market. IRN estimate that the medico-legal and insurance services (MLIS) market, including payments to individual, freelance and self-employed medical experts and case managers declined by 18% in 2020 compared with 2019.


02

Jun 2021

COVID-19 hits the travel insurance market

Single trip travel insurance hit the hardest by COVID-19 The 2021 results from the IRN Research Travel Insurance Consumer Research Report 2021, shows that compared with the result from our 2019 report, 2021 has seen a significant decline in the number of overseas travel trips taken, with the duration of trips also shortening.  Despite this, ownership of multi-trip insurance held up well: in 2021, 22%...

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25

May 2021

Consumer Legal Services Research Report – virtual consultations embraced and consumers looking further afield to find legal advice

At first glance, the UK Legal Services Consumer Research Report 2021 re-enforces results from previous years, i.e. the same practice areas dominate consumer use, law firms and solicitors are the main go-to advisors, fixed fees continue to increase their role as the main pricing model, and a large majority of law firm users are ready to use the same firm again if another legal matter...

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20

May 2021

Over 12 million people own mobile phone insurance

24% of mobile phone owners have insurance cover IRN Research estimates that in 2021 around 12.1 million adults were covered by mobile phone insurance and 5.7 million by gadget insurance. Between 2012 and 2021, the number of people owning mobile insurance increased by 21%, with the rate of growth slowing in recent years as ownership of mobiles reaches saturation levels. These findings come from the...

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