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What has the mortgage market got to look forward to in 2022? – Spencer

by: Melanie Spencer, head of Finova Payment and Mortgage Services
  • 07/01/2022
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What has the mortgage market got to look forward to in 2022? – Spencer
2021 has been a very strong year for mortgage lending with lenders and brokers experiencing high levels of activity.


The final quarter of 2021 saw an easing off in mortgage activity as the stamp duty holiday finally came to an end. But there is still high demand for housing which is in short supply.  

According to Propertymark, in November 2021 there was an average of 29 buyers for every property on the market, a rise of 21 per cent from October.  

Propertymark’s estate agency members had an average of 20 properties for sale per branch – the lowest on record and 50 per cent down on November 2020. 

Further technological innovation

Now we have moved into 2022, we will see more technological innovation. Volumes of lending are likely to be significant but lower than in 2021, giving the industry time to breathe and look at processes, systems enhancements and new functionality.  

Instead of having to suddenly adapt technology to deal with things like mortgage holidays, and carry much of this out remotely, IT teams should have more time to do what they like doing, which is innovating. 

Making the customer journey as efficient as possible improves the relationships between lenders, brokers and clients. A good broker portal that is constantly being updated is key to building a successful intermediary business.  

An intuitive CRM system makes it easier to attract new clients and maintain relationships with existing customers. Client retention will be a good business stream for brokers in 2022 because of all the remortgage business that is expected.  

With lots of fixed rates maturing this year, brokers should be concentrating on getting in touch with their clients and offering them advice on their refinancing options. This can also be an opportunity to cross sell other products such as insurance or second charge mortgages. 

More specialist lenders are due to enter the market so there will be more of a competitive edge to 2022. Even more so now that the first rise in base rate in three years has been announced by the Bank of England with more increases likely to follow during the year. 

I am looking forward to seeing what 2022 brings.

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