With the year drawing to a close, we certainly have plenty to reflect on.

From starting the year in lockdown, to adjusting to yet another ‘new normal’, the mortgage market has proved remarkably resilient in the face of shifting tides.

In a challenging environment, it has been heartening to see the market remain exceptionally buoyant, with people continuing to move on with their lives and make the most of the ultra-low mortgage rates available to them.

As we approach what seems to be another phase of uncertainty, we should be proud to end the year in a strong position. Whilst the fast-spreading Omicron variant may heighten industry anxieties, the overall health of the market should offer optimism as we look towards the new year. Even so, the question remains, what will drive the market forwards in 2022?

Enabling digital transformations remains paramount

The mortgage market has made significant strides forwards in the adoption of tech and undergone its very own digital revolution in the past eighteen months.

t the most trying of times, technology connected us with our customers. And, as a result, a fully remote purchase journey is no longer a distant vision. It’s vital that we keep this momentum going and continue to help people achieve their home ownership goals.

In order to keep pace with competitors, and respond to the raising expectations of customers, we must build on the efficiency gains and technological advancements of the past year.

We’ve mastered the art of video conferencing and digital document signing, now 2022 is a chance to gain further ground. With numerous changes to lending requirements and criteria in the last year, having the right digital tools to suit our clients’ needs has become key and there will be more to come.

Turning our focus to a sustainable Britain

Another key discussion point relates to the climate agenda. The recent COP26 summit consolidated the global commitment to accelerate action on climate change – but what does that mean for us? How can we embody this in the way we build homes, lend to customers, and offer advice?

This year saw the market take its first real steps. Improving the energy efficiency of the nation’s housing stock is now becoming a real consideration for all homebuyers, and it’s encouraging to see that mortgage products are already starting to reflect this.

However, we are very much at the start of a long-term journey, and 2022 presents an opportune moment to rethink our contribution to a more sustainable Britain. Apart from anything else, borrowers will increasingly demand progress in this area, making it imperative that advisers respond.

We need more than performative greenwashing; we need products that address buyers’ challenges and facilitate the UK’s move to a greener future. In the new year, it’s time we played our part and reiterate our commitment to sustainability.

Navigating a new rate climate

Next year is the first in some time in which we will see rates rising rather falling.

The advisors will need to adapt to this new market and find borrowers the best deals to suit their unique needs, reassuring them of the right course of action to take when it comes to finalising their mortgage.

The rate rise may well have already prompted a flood of queries, especially from clients who have become accustomed to rock-bottom interest rates, as well as those considering remortgaging or first-time borrowing. Indeed, our volumes through November and into December continue what has been quite an extraordinary year.

January looks to be another large month for product maturities, and we could set off at pace. It is important therefore that advisers continue to be on-hand to offer much-needed guidance and reassurance into 2022.

We venture into the new year with both excitement and uncertainty. However, I have no doubt that the industry will prove its ability to adapt once again and demonstrate the same resilience that has held us in good stead over the past year.

On a personal note, it has been rather a busy year and I for one am looking forward to a good break over the festive period, hopefully wearing a pair of skis

Meanwhile, I’d like to take this opportunity to wish all of my friends, colleagues and contacts in the market a very happy and prosperous 2022.