The widely-publicised Mortgage Charter has put the sector into the spotlight with lenders under pressure to support customers during the cost of living crisis.
The charter, which is voluntary, was published in June and has been signed by around 43 lenders. The government says that this covers around 90 per cent of the mortgage market.
The measures involve allowing customers to contact their lender for help without impacting their credit file, allowing borrowers up to date with payments to switch to a new mortgage deal at the end of their existing fixed rate deal without an affordability check, providing well-timed information to help customers plan ahead for fixed rate maturity.
Repossessions are also banned in less than a year from first missed payment unless there are “exceptional circumstances”, customers can lock in deals up to six months ahead, can request a better like-for-like deal until their new term starts and can switch to interest-only payments or six months or extend mortgage terms.
Lenders say that the charter has created consistency in the market and made it clearer to customers what help is available if they are struggling.
This month, Mortgage Solutions is asking if the Mortgage Charter has led to an uptick in customer enquiries around support measures.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
