Importantly, once the extension ends, will there be a dip in new-business enquiries? Putting plans in place to maximise other business streams could minimise any potential negative effects.

Intermediaries can stay front of mind with both new and existing clients once the stamp duty holiday ends by preparing for these opportunities and keeping in touch with clients throughout the year.

Although the holiday has enabled brokers to generate new business, it is important not to overlook upcoming market activity, which will mean advice is still in demand. This year there will be a series of peaks in residential and buy-to-let maturities that will allow brokers to support their existing clients too.

More than 700,000 residential fixed-rate mortgages will mature in 2021, while the five-year anniversary of the stamp duty surcharge means many landlords may also need a new mortgage deal. This gives intermediaries the perfect opportunity to help clients find a suitable new product and capture the wave of remortgage enquiries that will appear.

As lockdown restrictions begin to ease in the UK, many borrowers will be reviewing their finances and considering investment opportunities. They may be interested in purchasing property, using savings or refinancing to fund home improvements, or even helping their children on to the property ladder. Brokers can advise customers on all of these topics and support them with any property-related investments or spending decisions.

Although the stamp duty holiday deadline is in sight, the purchase market will still bring business. Buyers can benefit from a stamp duty holiday on the first £250,000 of a property’s value until the end of September, and first-time buyers are already exempt from paying stamp duty on the first £300,000.

Homebuying activity will likely continue, even once the holiday ends. Demand from existing and new borrowers will be boosted by the government’s mortgage guarantee scheme (MGS), and many will be looking to upsize for more space or a better home-working environment.

Lenders including Coventry Building Society have launched 95% loan-to-value mortgages outside the MGS to support homebuyers with smaller deposits.

Repeat business

To retain clients and secure repeat business, it is vital to create long-lasting relationships. Over the coming months, the variety of upcoming opportunities will enable intermediaries to lay the foundations for new-client relationships as well as maintain existing ones.

Staying in contact with current clients from the recent busy period will be key in securing more business down the line. If brokers keep in touch around life events such as birthdays, and update clients on market news and developments, this can add a personal touch to their service, distinguishing them from their peers.

Intermediaries can also secure repeat business by helping clients to get the best deal for their needs. Collaboration with lender partners is crucial to understanding which of their products could benefit clients.

By preparing for the many opportunities ahead, even before the stamp duty holiday ends, and supporting customers with their different mortgage needs, brokers can ensure clients will think of using them when they need any mortgage or financial advice.

Jonathan Stinton is head of intermediary relations at Coventry Building Society