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Lender criteria will soon adjust to withdrawal of state support – Ian Wilson

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  • 15/09/2021
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Lender criteria will soon adjust to withdrawal of state support – Ian Wilson
After a period of tighter affordability assessment, mortgage lenders are returning to a new normal as government financial support has steadily been withdrawn, said Ian Wilson head of Halifax intermediaries.

 

When asked about what would happen to mortgage policy once pandemic-related support ended, Wilson said: “There’s already been, I believe, a combined tightening of criteria and restricted product choice. Both of which are now improving significantly actually as we come out of this.  

“And by now people are either already depending on their own income to pay their way or preparing to do so when the scheme ends. With most borrowers on track to being self-sufficient, again criteria will adapt to any of those changes.”  

However, Wilson cautioned that the full extent of the pandemic’s impact on borrowers’ finance had not yet been seen. 

“It’s clear that some borrowers will find it harder to refinance. We’ll see how things develop throughout the year,” he added. 

 

Watch the video below [8:18] hosted by Samantha Partington, contributing editor and freelance journalist at Mortgage Solutions, featuring Ian Wilson, head of Halifax intermediaries.

 

This advertorial has been produced in association with Mortgage Solutions. 

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