Nationwide's mortgage boss Tracie Pearce said loyalty mortgages will play a bigger part in the mortgage market next year and added mortgage retention will be another focus for lenders.
Nationwide’s head of products and pricing said in an interview with Mortgage Solutions editor Victoria Hartley in November that fixed rates will continue to feature highly for UK lenders in 2013, alongside retaining its current customer base.
Lenders will also be very aware that the regulator will be looking closely at product appropriacy and free valuations, legals and cash backs will remain popular with first-time buyers.
“The current buy-to-let market could also be of interest [in 2013]. At the moment, the majority of lenders are looking to the low LTV, one to three properties market, but we could see some stretch on that next year,” added Pearce.
