You are here: Home - Your Community - Top Comments -

The mortgage sector has been ‘relentless’ these last three years – Star Letter 16/06/2023

  • 16/06/2023
  • 0
The mortgage sector has been ‘relentless’ these last three years – Star Letter 16/06/2023
Each week Mortgage Solutions and its sister title, Specialist Lending Solutions, pick the top comments from our readers.

The first came from Michelle Lawson, who was reacting to the story: Brokers divided over whether market ‘horrendous’ or advisers just need to ‘toughen up’ ‒ analysis 

She said: “Whilst I agree with the sentiment of some of these comments, time off is precious and everyone needs a break. We also know this industry isn’t about 9-5 and can be flexible to a point. Working all hours and being available 24/7 is not a testament to success.  

“A healthy work/life balance is where you don’t have to cancel a night out due to a rate pull. Are the lenders still working at this point? The answer is generally no.” 

She added: “It is not ‘normal’ to work every day of a 10-day holiday. Although, to a point when you own a business, you never switch off fully which makes the break time even more important. I have been in the industry now for just over 20 years and my own business for 10 years next year and just because it has ‘always been’ this way, it doesn’t mean it should continue.  

“You do have to take the rough with the smooth however this industry has been relentless over the last three years and the worst I have known it. Through progress comes change and from change comes progress. Everyone has their own business models and levels of acceptance – nobody is right or wrong – however, most people are in agreement that we have to do the right thing for our customers.” 


It’ll take time to see landlord exit 

The second came from Paul Barrett in response to the article: Reports of the ‘death’ of the UK buy-to-let sector have been greatly exaggerated – Davies 

He said: “Landlords are leaving the long-term letting sector, it takes time to do so. 

“But in the next 14 months, hundreds of thousands of landlords will be leaving the long-term term letting sector.” 

He added: “Landlords want to be out well before the Labour Party is in power at the coming General Election. Leveraged landlords are in extreme difficulty and they are 50 per cent of the letting market. 

“The private rental sector is facing issues it hasn’t seen since 1996.” 

The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.

There are 0 Comment(s)

You may also be interested in