I don’t know if it’s possible to accurately summarize the last few weeks in the mortgage industry without using expletives….
It hasn’t been easy for anyone, but brokers have been particularly hard hit by the fallout from the Chancellor’s mini-budget, working around the clock to secure rates and calm the nerves of panicked clients.
Anyone coming to the end of a mortgage term will have been particularly shaken by the withdrawal of products and the rise in rates. But amidst all this mania, it’s been so positive to see so many brokers popping up in the national media to be the voice of reason and offer sound, sound advice.
Think back to that time you overcame something that seemed insurmountable. You can do it again
It is undeniable that mortgage prices have increased significantly in the short term. For those who got their first product when rates were at rock bottom and nearing the end of their term, a shock may be in store. But, as of press time, the intense post-budget market volatility was beginning to subside and lenders were bringing product back, some even cutting rates.
In these turbulent times, brokers are truly the heroes the market needs. But being the saviors of borrowers, and often their therapists, is quite a burden to bear. I’m sure you yourselves are shaken by recent events.
Brokers have been hit particularly hard by the fallout from the Chancellor’s mini-budget
If you have five minutes to look away from a screen, this month’s magazine features articles and commentary on a variety of topics, not all of which are budget-related! Our cover story examines long-term mortgages and whether 30- and 50-year terms will work; while in the second feature, I chat with Paradigm about 15 years in business and solving market challenges.
We have new insights in our housing, buy-to-let, relay, trade and technology watch columns; and, of course, Andrew Montlake says it like it’s like only he can in Market Watch. Accord and Santander are in the hot seat in our One to One and Day in the Life profiles and there’s a host of additional information on our news commentary and analysis pages.
At press time, the intense volatility in the post-budget market was beginning to subside and lenders were bringing back products
If you are struggling right now, as I am sure so many others are, think back to when you overcame something that seemed insurmountable. You can do it again.
Take care of yourself !