There is a quote I came across the other day from the writer Robert Tew that I thought was apt: “The struggle you’re in today is developing the strength you need tomorrow.”

I have spoken about this in our team meetings and think that many brokers, especially the newer ones, will look back at this time and say it was when they really developed their skills. It’s easy to work in a busy market.

Well, not easy, but you get my drift. When enquiries flood in and people are knocking down the

door to deal with you, it is easy to get a bit blasé. Some of the prospecting skills go out the window and, it is only natural to cherry pick and feel like a king or queen. It is times like these that really help us learn from and appreciate and recognise the good times when they return. Note the ‘when’.

I have spoken to lots of different brokers and business owners during the lockdown, and been fortunate to have been a part of quite a few different podcasts, and I have come away from all of these things feeling lucky.

I mean lucky that, despite everything that is going on, I work in an industry, more by chance than by judgement, that is filled with everyday people who continue to inspire me.

I learn something every time I speak to someone – from the Mortgage Mum with her recruitment drive during lockdown, to Rob Jupp’s excellent vodcasts, and various networks, firms and brokers – there is just so much brilliance out there.

It is your openness in these difficult times that I welcome so much. For those of you who have helped me personally and asked for nothing in return, shared ideas and helped to support this fine industry, and get as much information out there as possible in difficult circumstances, it has been great to see.

I very much hope we continue to set the gold standard for other industries to follow as we come out of this.

There is room for all of us and it is more important than ever that we continue to display a united front to promote our industry, and show both regulators and the public what we stand for, and what we achieve for our clients come rain or shine.

It is great news that the industry is starting to open up again and, once more, I doff my hat to lenders who are responding and coming back with more products and opening up higher LTVs once more.

It is especially important that we continue to be consistent as an industry. We cannot have a Cummings-style “one rule for some and another for someone else”. It is what we have always battled for: a level playing field within which we can ply our honest trade.

We don’t want lenders to be able to do something brokers can’t, or new online-only brokers given too much credence over people who know the industry inside and out and really do care about its future.

Speaking of government, I know this is something I have tried to steer clear of for a while, but at least we now have a new opposition leader who is actually going to give Boris a run for his money. What happens next will be critical, not just for the country and the economy’s future, but also for the future of the current government.

The Cummings debacle aside, how we get back to work and avoid a steep recession, especially when the furlough rules change and subsequently end, will be critical.

It is no surprise that we have seen a steep drop in property transactions compared to this time last year and last month, but what is more interesting is the fact that we are already seeing reports of increased activity once more.

The property market relies very much on general sentiment and its reopening by the government is a tentative, yet positive step.

What we do know is that after spending time looking at the same four walls for several weeks, as well as a likely increase in flexibility of working patterns, many are hitting the property portals again and looking at moving. Whether this translates into actual transaction levels remains to be seen, but with low interest rates and lenders keen to lend, we should see levels increase over the coming months.

Cast a glance over the current money markets and you can really see the effect the coronavirus situation has had on the expectations for interest rates. Three-month LIBOR has fallen to 0.25 per cent, while SWAP rates have continued to plummet.

Since the last column therefore:

2-year money is down 0.11 per cent at 0.29 per cent

3-year money is down 0.11 per cent at 0.29 per cent

5-year money is down 0.10 per cent at 0.32 per cent

10-year money is down 0.06 per cent at 0.42 per cent

There has been a lot of coverage of late around the question of whether we will see negative interest rates in the UK, something that is by no means beyond the realms of possibility.

Of course, even if the Bank of England base rate does go negative, it does not mean we will suddenly see lots of lenders offering rates with a minus sign in front of them.

I would advise brokers to get your explanations to clients ready though; if it happens the phones will go ballistic.

Lender-wise, there are now green shoots all over the place and, while nobody wants to get carried away, it’s nice to have some positivity to grab hold of once more.

We have seen lenders such as Accord, Virgin Money and Clydesdale Bank come back into 90 per cent LTV lending once more, joining stalwarts HSBC who have been consistent throughout the recent weeks.

Accord has also committed to retaining its income multiples at five times income for those earning over £60,000 and back to 90 per cent LTV to £600,000 and 75 per cent up to £5m, which is good to hear.

HSBC and Nationwide have also reduced their rates, as have a number of other lenders who are feeling increasingly comfortable in taking in more business. Well done to Nationwide as well for saying it will not repossess any borrower’s homes over the next 12 months.

Also, in a nice move from NatWest, it is now allowing additional borrowing alongside a product switch with standard proc fees for the additional borrowing part.

Specialist lenders offering buy-to-lets have also returned to the fray, with Kent Reliance among others now back at its standard 75 per cent LTV with some decent product options. It is important to see lenders like this return.

With the extension of the three-month mortgage “holiday”, sorry, deferral, into a six-month one, I hope that the FCA and regulators do all they can to make sure that non-bank lenders are as secure as possible.

It is a big hit to any business to suddenly have effectively six months of “income” not having come in, and government and regulators need to think about the industry as a whole.

There is so much more in this ever-changing market, but at least the changes are positive. So should you all be. Keep safe.