Next year will provide “new opportunities and a fresh start for both brokers and borrowers”, says OSB Group group intermediary director Adrian Moloney.

In the group’s latest report, Moloney discusses what he expects to see in the first three months of 2025.

Themes include an uptick in rate rolls, a first-time buyer (FTB) boom and rising demand for expert guidance.

The report highlights that three million households will face higher mortgage payments in the six months to December this year and 400,000 homeowners will see an increase of more than 50% in their payments.

Moloney says: “This is the largest wave of rate roll-offs in recent years, and we expect this to continue into early 2025.”

He believes that early client engagement will be “critical” in understanding customers’ concerns and offering the right solution.

He states: “While the rate increases might initially discourage some buyers, brokers have an opportunity to guide clients through product transfers, which have become an essential aspect of the lending market.”

“By assessing which clients are best suited for refinancing or product transfers, brokers can continue to position themselves as trusted advisors in an uncertain market.”

A significant post-budget development that will come into effect in early 2025 will be the end of the stamp duty relief for FTBs.

Moloney believes this could create “a complex environment for those starting on the property ladder”.

He also notes that as the purchase market gains momentum, “delays could put pressure on legal processes causing backlogs”.

Finally, Moloney suggests there will be rising demand for expert guidance, which he says highlights the “invaluable role of brokers”.

“As the financial landscape grows more complex, with shifting regulations, an increasing number of products and changing economic conditions, the demand for personalised advice will only increase.”