Pensions, Housing and Mortgage Markets in the UK

Tripti Sharma, Donal McKillop, Declan French

Research output: Chapter in Book/Report/Conference proceedingChapter

1 Citation (Scopus)


Recent reforms to pensions in the UK have been driven by low levels of retirement savings, increased life expectancy and public expectations of standards of living in later life. The government has introduced auto-enrolment of employees into occupational schemes for the purposes of increasing the numbers of those saving for retirement. To lessen budget deficits, they are also seeking to introduce measures, which will make non-pension savings more attractive. The government’s desire to reduce budget deficits has made the future of State Pensions uncertain, and the onus of retirement provision is increasingly moving towards individuals. Consequently, more people are looking to use their house as a retirement asset. There has been a significant rise in the demand for mortgage products in the 65+ population, and an increasing number of consumers are taking out mortgages that will extend into their retirement. However, the existing mortgage market in the UK is not equipped to support the changing pattern in consumer needs. In addition, the changing political and social environment in the UK has created uncertainties in housing and mortgage markets. In this chapter, we report and explain current developments in pensions, housing and mortgage markets in the UK. Our analysis indicates that each of these sectors has reached a turning point necessitating significant responses from stakeholders and policymakers.
Original languageEnglish
Title of host publicationOld-Age Provision and Homeownership – Fiscal Incentives and Other Public Policy Options
EditorsMartina Eckardt, Jörg Dötsch, Stefan Okruch
Number of pages142
ISBN (Electronic)978-3-319-75211-2
ISBN (Print)978-3-319-75210-5
Publication statusPublished - 11 May 2018


  • Old-Age Security
  • Old-Age Provision
  • Equity Release
  • Mortgage Market
  • Residential Property
  • Housing Market
  • Private Pensions
  • Fiscal Incentives
  • Home Ownership
  • Life Annuity
  • Pension System
  • Equity Release Schemes
  • ERS


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