And just like that it’s December again….
Simply getting to the end of each month while still holding on has felt like a huge achievement of late, so making it to the end of a tumultuous year is certainly worth celebrating!
Coming off the back of 2021, one of the busiest years on record for many businesses, we went into 2022 full of optimism for more of the same, and it started well in terms of demand at least.
But, as always, surprises came our way, several caused by the chaos that was the ever-changing government and the Truss/Kwarteng doomed mini-Budget.
It wasn’t all bad. I hope there were some things in 2022 that gave you moments of joy
Lenders had to pull multiple products to reprice as the markets planned for the worst and, when they returned, rates had skyrocketed, leading to considerable panic among borrowers and, in turn, a mountain of additional, complex work for brokers who were already running out of steam.
I’m beginning to sound like a broken record but, brokers, I don’t know how you do it! If you didn’t, of course, borrowers would be in a far worse position.
In our last edition of the year, our cover feature by Natalie Thomas breaks down the major events of 2022, labelled an ‘annus horribilis’ by Andrew Montlake in his latest Market Watch.
In our second feature, Emma Simon looks at arrears levels and what can be done in advance to stop the number of repossessions rising further next year.
A lifting of restrictions was a positive, and mortgage rates are falling again
Our excellent columnists and interviewees throughout the magazine offer articulate insight on where each part of the market stands and where we go from here, while we close the year, and the magazine, on a lighter note with Mole and 10 Years Ago.
Each year throws new challenges our way and, as they say, it doesn’t matter how many times you fall, it’s how often you get back up that counts!
It wasn’t all bad. I hope there were some things in 2022 that gave you moments of joy.
A lifting of restrictions was a positive, mortgage rates are falling again and, personally, I finally made it up the aisle after three postponements.
Don’t look back in anger. You made it!
