Over £180 billion borrowed in 2018, by mortgage holders with a 2.8% rise expected in 2019 Existing homeowners borrowed over £180 billion in 2018 secured on their homes, representing almost 900,000 mortgages/loans. The amount borrowed rose by 5.6% in 2018, mainly reflecting a sharp rise in remortgaging and lifetime mortgage activity, with the number of mortgage advances growing by 5.2%. In 2019, IRN Research anticipates...
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DIVORCE PROCEEDINGS – A THIRD TAKE THE DIY ROUTE FROM START TO FINISH, 10% START THE PROCEEDINGS THEMSELVES THEN SEEK PROFESSIONAL ADVICE The latest consumer research findings from IRN Research show that almost a third of individuals involved in a divorce or civil partnership dissolution decided to deal with the proceedings themselves from start to finish. Another 10% started proceedings themselves but then used...
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New Prices Set for Consumer Market Research Reports From today, all of IRN’s financial consumer research reports will have a new pricing structure. All major report titles are now priced at £1,700 (£2,040 including VAT). Shorter reports, reports with smaller respondent bases, or reports who research is based on a restricted number of questions will continue to be individually priced based in the scale and...
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IRN Research launched two new, shorter insurance consumer research reports: Insurance Consumer Before-the-Event Legal Expense Insurance Insurance Consumer report Insurance Consumers spend £25 billion on general insurance In 2018, UK consumers are estimated by IRN Research to have spent around £25 billion on general insurance premiums, rising to around £26 billion in 2016. Virtually all consumers (92%) own at least one type of general insurance...
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First-Time Buyer Mortgage market continues to grow.. The First Time Buyers Market Trends Report 2019, the second edition of IRN’s First-Time Buyer Market Trends Report, finds that in 2018, First-Time Buyers (FTBs) borrowed almost £60 billion to purchase their first homes, 4.4% more than in 2017. In 2018, the number of advances rose by 1.9%. In 2019, IRN Research estimates the value of FTB mortgage advances...
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Only 46% of pet owners have pet insurance 25% of all consumers own pet insurance, while almost half of consumers own a pet, resulting in just under half of pet owners (46%) owning pet insurance. Insurance ownership is significantly higher if the consumer owns a dog or a pedigree cat, because pedigree breeds traditionally have more health problems compared with their mixed breed counterparts. Owners...
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35 million covered by travel insurance 34.6 million consumers (or 54% of all adults) have multi-trip travel insurance now or have had single trip insurance cover over the past year. Of these individuals, 29.1 million own standalone, separate travel insurance policies (i.e. they are not bundled into packaged bank accounts or other insurances). Single trip insurance (40% of consumers) is more popular than multi-trip insurance...
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Optimism dips in the residential conveyancing market- the roller coaster continues The UK Conveyancing Market Trends Report 2019 provides an overview of the UK conveyancing market which is facing a period of uncertainty in the next few years. In 2018 as in 2017, IRN Research estimate that the residential conveyancing market declined as the number of property transactions and the number of individuals using conveyancing...
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Over 10 million consumers covered by mobile phone insurance Around eight-in-ten consumers own a mobile phone used for personal purposes and around one-quarter of mobile owners are covered by mobile phone insurance. This means that just over 10 million adults are covered by a mobile phone insurance policy. Around half of insured mobile owners own a separate/standalone policy, with just under one half saying their...
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Motor Breakdown Market worth £1.8 billion and covers almost half of adults Almost half of consumers (46%) own a motor breakdown policy, which means almost six-in-ten drivers (58%) have breakdown cover. The motor breakdown market is worth almost £1.8 billion, of which 76% represents the consumer market. IRN Research anticipate the market will grow, on average, by around 2.4% each year, so that by 2023...
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