Black & White Bridging polled 100 intermediaries on risks in the mortgage market including Bank of England base rate decisions, first-time buyer market and government policy, among others.

More than half, 53%, thought government policy is the biggest risk to the mortgage market, and a further 28% selected it as the second biggest risk.

Meanwhile, consumer affordability is the second biggest risk to the mortgage industry, with 31% of those polled ranking it in greatest threat to the sector.

Bank of England base rate decisions came in third with 11%.

The first-time buyer market was deemed a low risk to the mortgage market, although the availability of property was seen as an even smaller threat.

Black & White Bridging chief operating officer Damien Druce says: “Clearly, the sector has little faith in the current government. Given the complete shambles the Chancellor made of the Budget, I’d say they are bang on the money.”

“Unfortunately, the chaos looks set to continue, with Ms. Reeves failing to rule out further tax rises in the Spring. She has already alienated landlords and those with higher value properties while offering nothing to support first-time buyers. Brokers have learnt the hard way that this anti-business, anti-growth government is not to be trusted.”

He adds: “Consumer affordability and the base rate, via inflation, are both impacted by changes to government policy. So, this all comes back to the same core issue. It remains to be seen what impact the Budget will have on inflation and the thinking of the Monetary Policy Committee.”

“But for these factors to become less of a risk, a base rate cut must be implemented this week, enabling interest rates to come down as we head into the new year, and getting the sector off to a strong start in 2026.”

“Once it was a huge problem, but pent-up demand, due to Budget hesitancy, has led to plenty of property being available and on the market.”

“As transactions begin to pick up, this may become more of an issue, especially if interest rates drop. But with landlords selling up in droves, we have a long way to go before property availability becomes an issue again.”