Mortgage lenders predict a busy 2022 despite lower gross lending


“I think we’ll see a 5% increase in mortgages this year, and a similar rate for product transfers, as lenders and brokers have more space to focus on those areas.”



Speaking on the latest podcast in the Accord Mortgages Growth series, Rob Thomas, Senior Researcher at IMLA, and Charles Roe, Director of Mortgages at UK Finance, look back on their now cautious forecasts from last year and call business existing a key area for the broker. opportunity in 2022.

Rob, who said in March last year that he would revise his initial forecast of £283billion if he forecast again – to the surprise of many – explains that the £300billion barrier has in fact been crossed due to the extension of the stamp duty holiday and the low bank rates which had caused more people to buy a house than expected.

This year, Charles anticipates higher gross lending figures from both industry bodies, albeit down 11% from 2021, and both experts suggest brokers and lenders are set for a busy year mortgage and product transfer activities.

Rob said: “I think we’ll see a 5% increase in mortgages this year, and a similar rate for product transfers, as lenders and brokers have more space to focus on those areas after a year. hectic with the stamp duty last year.”

The two-part podcast also explores how Covid has overshadowed Brexit’s anticipated impact on the housing market, challenges the Financial Policy Committee’s analysis for the stress test consultation and calls on developers and government to find a solution to the housing crisis, especially for downsizers. , it is beneficial and equitable for all.

Jeremy Duncombe, managing director of Accord Mortgages who hosted the podcast, said: “Last year’s podcast was held in high regard by many brokers, so we were eager to bring Rob and Charles back to review their predictions and share their thoughts on how this year might unfold – it’s still fascinating to hear their different points of view, but also their agreement on subjects that affect us all in the market.

“This is another great addition to our Growth Series library, and I’m sure many advisors will benefit from the insight and knowledge of two of the industry’s leading figures to really add value to conversations with clients. .”


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