As another year draws to a close the industry reflects on the highs and lows of 2021 and the hopes for the next 12 months.

Robert Sinclair Chief executive, Ami

“The highpoint of 2021 for me was the Treasury accepting our arguments to extend the stamp duty deadline and taking away the March cliff edge, closely followed by the outstanding way that the industry came together in both June and September to complete the phenomenal number of transactions in the pipeline. We should all be proud of what was achieved.

The low point for me was personal, losing two people close to me. The deaths of my dad and also my best friend have left a huge hole. It brought home the fragility of life and that you should not put things off.

The highpoint of 2021 was the Treasury accepting our arguments to extend the stamp duty deadline

I have yet to hear of people with terminal illness saying they wish they had spent more time at work.

And the Ami work on diversity and inclusivity has been a beacon of hope for many.

Our resolve for 2022 has to be to be kinder to people. To spend more time thinking about what we can all do to include all genders, races, abilities and skills in what is a great place to work.”

John Phillips National operations director, Just Mortgages

“2021 has been a challenging but ultimately rewarding year for our brokers. Our team has adapted, working at home, then meeting clients face to face, then back to working from home as the lockdowns disrupted activity.

Our team expanded at a rapid pace and we advised more clients than in any other year

An inescapable topic is the impact of the stamp duty holiday. The tax savings acted as an accelerant to an already busy market, with a significant number of people bringing forward plans to move, and the need for expert advice has risen in conjunction. To meet that demand, our team expanded at a rapid pace and we advised more clients than in any other year.

Buyer demand looks set to continue and, as sellers remain scarce, house prices look set to continue climbing.

The growth in property prices may begin to slow, however, as purchasers may begin to question whether they are getting value for money.”

Karen Rodrigues Director of sales, eConveyancer

“The temporary reduction in stamp duty obviously provided a boost to the property market, but the way in which it was unwound created arbitrary deadlines and unnecessary pressure on the conveyancing system.

I’m proud of the way most brokers took a collaborative and communicative approach to understanding the pressure that conveyancers were under

I’m very proud of the way conveyancers on our panel stepped up to the challenge and worked tirelessly to complete as many purchases as was physically possible in the limited timeframe.

I’m also proud of the way the majority of brokers took a collaborative and communicative approach to understanding the pressure that conveyancers were under.”

Jason Berry Group sales & marketing director, Crystal Specialist Finance

“This year has certainly been a strong one for intermediaries and the specialist lending sector.

Against the odds, mortgage brokers have continued to demonstrate admirable resilience with many achieving record transaction levels, helped in no small part by a government that did a great job stimulating the housing market with the stamp duty cut.

However, the transaction spikes certainly created pressures on operational processes and undoubtedly led to unwanted stresses for those in the mortgage world.

Against the odds, mortgage brokers have continued to demonstrate admirable resilience

Recent market surveys completed by Crystal suggest that 66% of mortgage brokers worked more than 45 hours weekly during 2021, and that placement of cases, lack of property stock and not enough time are their biggest challenges moving into the new year.

I’m convinced, though, that brokers, distributors and lenders can look forward to 2022 with optimism. More houses will be built, debt consolidation opportunities will increase, and a rising number of homeowners will refinance to either improve terms or simply enlarge their property.”

Melanie Spencer Head of Finova Payment & Mortgage Services

“Product innovation will continue in 2022 with more lenders offering the likes of green mortgages and longer-term fixed-rate products — two areas that have seen new activity in 2021.

In 2022 there will be lots of new technological innovations with broker/lender portals becoming ever more efficient

With the base rate set to increase, there is only one way for historically low mortgage rates to go.

As a mortgage club, we see both sides of what brokers and lenders have to deal with. In 2022 there will be lots of new technological innovations with broker/lender portals becoming ever more efficient.

If brokers can impress their clients with quick onboarding, less paperwork, smooth case tracking and a slick customer journey, they are more likely to retain their customers and gain new ones through word of mouth.”

Hiten Ganatra Managing director, Visionary Finance

“Unfortunately, underwriting timescales were an issue in 2021, especially where lenders had not anticipated the volume of business that would be coming through.

Greater availability of higher-LTV products has been a massive positive

The scrutiny of self-employed mortgage applications, where many lenders took an ultra-cautious approach, was also an ongoing issue.

There have undoubtedly been highs, though, as the competition among lenders leading to keen pricing of products has resulted in mortgage clients securing some of the lowest rates ever seen. Also, greater availability of higher-LTV products has been a massive positive.”

Paul Brett Managing director, intermediaries, Landbay

“Remortgaging is going to be strong in 2022, especially in the first quarter, so brokers should be building up their client retention plans.

 Longer-term fixes, even beyond five years, will become very attractive

Back in 2016/17, five-year fixed rates started to become popular and many of those products will be maturing and due for refinance.

We know professional landlords are keen to build up their portfolios and are looking to remortgage on five-year fixes again.

It is inevitable that the Bank of England base rate will rise, so longer-term fixes, even beyond five years, will become very attractive.”

Jeremy Duncombe 

Managing director, Accord Mortgages

“Despite it being somewhat unpredictable, I expect the market next year will remain strong as we get off to a busy start with maturities – which in itself presents a huge opportunity for brokers.

“Complex cases will become the norm as the fallout from the pandemic leaves its mark on borrowers’ situations, and it’s likely we’ll see more people turn to intermediaries for support during these uncertain times.  The value of advice will for some, never have been more necessary.

“As a lender, our common-sense approach to lending will be essential, and I’m sure technology will continue to play a large role in improving broker and client journeys. I hope 2022 is a year we see technology adopted more than ever before – it’s there to help, not hinder, brokers after all.”

Jeremy Duncombe, managing director, Accord Mortgages