The house purchase market boomed. Brokers experienced their busiest quarter on record between July and September according to IMLA, gross mortgage lending this year is tipped to peak at £316bn and housing transactions are forecast to reach 1.5m, according to UK Finance.
Calls for an extension to the stamp duty holiday were met, giving borrowers until the end of June to benefit from savings of up to £15,000 before tapering off and ending on 30 September.
As business volumes reached record levels, brokers had to negotiate vast changes in self-employed and flexible income criteria, the government launched its 95 per cent mortgage guarantee scheme and Help to Buy was extended.
It’s certainly been an eventful year.
Here’s a round-up of the biggest stories on Mortgage Solutions this year.
Help to Buy extended for all buyers and builders until 31 May
Buy-to-let market opens up to first-time landlords – Moneyfacts
First-time buyers say deals collapsed after banks backtracked on initial offer
Loan to income changes could shut first-time buyers out of 95 per cent market – analysis
Govt-backed 95 per cent LTV mortgage guarantee scheme will be open to all – reports
Nationwide warns of ‘peak period ahead’ and returns 90 per cent LTV max term
Santander launching self-employed mortgage calculator as brokers call for more banks to follow
First-time buyers are not waiting for price drops, they are ready to buy now – Marketwatch
