Yes, we know that lending will still be restricted, particularly in the mainstream lending channel and of course I am sure there will be the familiar feelings of vertigo as the Eurozone rollercoaster attempts to put yet more sticking plaster over the economic disaster represented by Greece and Spain.
Yet, I cannot help but feel that there are more reasons for optimism this year. First and foremost, the MMR and RDR and most of the alphabet soup surrounding the new compliance rules are now out in the open and lenders and intermediaries finally know exactly where they stand.
This could be part of the reason why there has been so much activity from potential new lenders and those who have been keeping their powder dry waiting for the right time to come back to market.
I have had many conversations in the last quarter of 2012 with existing lenders and those most likely to make an appearance in 2013.
It won’t come as any surprise that these lenders are aiming at the specialist end of the market and this gives me a lot of optimism that intermediaries are going to be much in demand.
The key issue for all lenders, be they new or just looking for greater penetration, is finding a tried and trusted method of getting to market and it looks like the packager/distributor model is going to play a key role between lenders and intermediaries in 2013.
Ian Balfour is CEO at Solent Mortgage Services
