Speaking at the Mortgage Vision event, Sinclair said the industry was enjoying a period where “transactions were at a very good level” and lenders had never been busier.
However, he predicted the market may enter a tough period in the middle of 2021.
“While we’re making money, make sure we’re putting some away because I do think when we get to Q2 or Q3 next year, times will get a little bit harder.
“Therefore, saving some money now and putting it away to sustain us through the rainy times that I think might come in 2021 might be a very good idea.”
It is also important for advisers to talk to their customers and understand their needs to protect future business, Sinclair said.
“Remortgage and products transfers are as important as full-blooded purchase property transactions because staying close to existing customers and earning money from them is the key to having a future sustainable business,” he added.
Mortgage prisoner help
Sinclair said brokers who responded to the Financial Conduct Authority’s (FCA) call to action to help mortgage prisoners should prepare to be contacted by lenders before the end of the year to find out how they can get them onto better rates.
He said: “I expect the third-party administrators will issue their letters to the prisoners that they deem can be helped during October and November this year.
“I expect during September, a group of lenders to come to market with either new products or new policy or new processes.”