Typically, we spend the start of the year getting back into the swing of things after what has usually been a quieter December month as borrowers, brokers and lenders alike take their foot off the gas to reflect on what was and to prepare for what’s to come.

But last year wasn’t typical – as we all know just too well – and December followed suit. The market witnessed an incredible year end, with a combination of strong demand, a wide range of competitive choice and perhaps, unexpectedly in the end, a rise at the final call for the base rate. We usually see a large drop in December applications, but you can guess – this year was different. For context, it was actually one of our best months in the second half of the year, and I know we’re not alone. Rightmove, too, said buyer demand was up 23%, while the number of new sellers coming to market on Boxing Day jumped 21% on a yearly basis.

So, while we haven’t necessarily had the time to reflect and reset, the continued and strong levels of mortgage activity for this time of year have flowed through to the new year, and we look set for another strong quarter, and beyond.

Falling unemployment, low borrowing costs and a sustained number of low deposit mortgages are key drivers of this unwavering demand, and now we’re no longer fire-fighting the pandemic in the same way we were a year ago, as an industry we need to push on again to meet the slightly different needs we’re seeing as a result of the last few years.

The mortgage market will continue to evolve, and we must progress with it. First-time buyers, the self-employed, landlords – there are many people relying on us to innovate, to be flexible and to think outside the box to help them finance their properties. Already this year we’ve increased maximum borrowing for debt consolidation, improved our lending criteria and increased LTVs for flats, and made several improvements to our buy-to-let range, including introducing ERC-free products to allow flexibility. And we’ll continue to apply common-sense wherever it’s responsible for us to do so.

Elsewhere, we’ve seen lenders enhance their loan-to-income ratio or reduce the required time in employment, while others have cautiously warned that they may need to tighten affordability tests to protect borrowers in light of the cost of living crisis. Ultimately, we’re all making decisions that balance the unpredictable economic indicators with borrower need. We’ve done that for the duration of the pandemic, and it served us well. While many industries have suffered, the mortgage market navigated the crisis well, and that can only be of benefit to borrowers.

I’m optimistic about the rest of the year, and know that with the same commitment, enthusiasm and resilience we’ve all shown, we’ll continue to collectively do what we do best – help people to buy and keep a property of their own.

Jeremy Duncombe is managing director of Accord Mortgages