The Intermediary – November 2025

From the editor...

If the past month has made anything clear, it is that the mortgage market is entering a phase defined not by dramatic swings, but by a steady, grinding recalibration.

Rates have stabilised, product choice has widened, and lenders have begun to re-enter spaces they pulled back from during the volatility of the past two years. Yet beneath that surface calm lies an industry working hard to strike the right balance between caution and ambition.

Affordability remains the central tension. Recent adjustments to stress-testing and LTI thresholds are starting to show their impact, with several lenders reporting a noticeable li in borrower capacity, particularly among first-time buyers. It may not be transformation, but it’s movement, and for many buyers, movement has been missing for too long.

Brokers tell us that cases previously parked are reappearing, and conversations that once ended with ‘not yet’ are beginning to sound more hopeful.

At the same time, competition is sharpening. We’ve seen a renewed push from lenders to differentiate through criteria, technology, and service standards.

The widening gap between those investing in system upgrades, digital processing and decisioning, and those relying on older infrastructure, has become more visible. Speed, accuracy and communication – always the pillars

of broker satisfaction – are back at the top of the agenda.

No be er time, then, for our Technology Special Focus to take place, bringing you everything you need to know and more about the current state of play.

Whether it’s the rise of automated valuations, the growing role of data-driven affordability tools, or ongoing debates around the use of AI in underwriting and customer interactions, the industry is wrestling with the practical implications of digital transformation.

The conversation has shi ed, crucially, from hypotheticals to operational reality: how to adopt the right tools without creating new risks, inconsistencies or regulatory blind spots. As ever, brokers find themselves at the sharp end of this transition, balancing client expectations for speed with the need for clear oversight, transparency and reassurance.

Look no further than the following pages for insights into the use of tech within lenders of all sizes, the challenges and opportunities for brokers, and more.

It’s a jam-packed issue, from solving the problems facing the conveyancing sector in our industry round-table, to recapping a glamorous night of celebration with our National Mortgage Awards – Second Charge photo spread, and much more besides. ●

Jessica Bird

@jess_jbird

www.theintermediary.co.uk www.uk.linkedin.com/company/the-intermediary @IntermediaryUK www.facebook.com/IntermediaryUK

The Team

Jessica Bird Managing Editor

Jessica O’Connor Deputy Editor

Marvin Onumonu Reporter

Brian West Sales Director brian.west@astormedia.co.uk

Millie Sweetman Commercial Development Executive

Laura Strolconoka Campaign Manager

Ryan Fowler Publisher

Felix Blakeston Associate Publisher

Helen Thorne Accounts nance@astormedia.co.uk

Orson McAleer Designer

Bryan Hay Associate Editor Subscriptions subscriptions@theintermediary.co.uk

Contributors

Aaron Shinwell | Adrian Moloney | Alex Curtis

Alistair Brown | Andrew Vaughan

Averil Leimon | Babek Ismayil | Chris Blewitt

Chris Jones | Chris Wilson | Constantinos

Savvides | Dale Jannels | Dave Harris

David Graydon | Eddie Lau | Emma Kelman

Grant Hendry | Hamza Behzad | Harpal Singh

Helen Pierson | Jake Sandford | Jerry Mulle

Karl Gri n | Laura omas | Lee Da ern

Mark Blackwell | Martin Boyle | Martin Sims

Mike Says | Nadine Edwards | Nathan Reilly

Neal Jannels | Neil Cobbold | Pete Gatenby

Raphael Benggio | Rob McCoy | Rob Stanton

Robin Sharp | Roger Baird | Roz Cawood

Sara Palmer | Sebastian Murphy | Stephanie

Dunkley | Stephen Cowdell | Stuart Cheetham

Wes Regis | Will Hale | Zahid Bilgrami

© 2025 The Intermediary

by Giles Pilbrow

by Pensord Press

TECHNOLOGY

SPECIAL FOCUS ISSUE

Feature 6

THE SPRINT BEGINS

Roger Baird on big data, AI and the drive to cut homebuying times

Opinion 16

The latest on technology from 360 Lifecycle, Mortgage Brain, Twenty7Tec, nova, and more…

REGULARS

Round-Table 50

Marvin Onumonu outlines the talking points and practical plans from a panel discussion centred on xing conveyancing

National Mortgage Awards –Second Charge  84

A look back at the highlights from this year’s awards celebration at The Underglobe, London

Broker business 94

A look at the practical realities of being a broker, from mental health to Google reviews

On the Move 98

An eye on the revolving doors of the mortgage market: the latest industry job moves

SECTORS AT-A-GLANCE

INTERVIEWS & PROFILES

The Interview 42

NATWEST

Nadine Edwards on how the bank’s work with PEXA heralds change for the market

In Pro le 26, 34, 58

WEST BROM

Meet the BDM 80 Contents

Martin Boyle talks ongoing digital transformation as the building society evolves

OMS

Neal and Dale Jannels on the future of mortgage technology

GEN H

Sara Palmer discusses her recent appointment and the lender’s future growth plans

Q&As 18, 30, 74

MQUBE

Stuart Cheetham discusses the work being done at the forefront of the tech revolution

SPACIABLE

David Graydon on how data and tech can transform the rental sector

JMT FINANCE & JMW SOLICITORS

Chris Jones and Robin Sharp discuss the value of partnerships

Meet the Broker 92

JUST MORTGAGES

Lee Da ern looks back at his journey to self-employment

GATEHOUSE BANK Emma Kelman on the challenges and opportunities for BDMs

The sprinT begins

BIG DATA, AI AND THE DRIVE TO CUT HOMEBUYING TIMES

Roger Baird for The Intermediary

The balance between speed and data security, automation and thorough risk management, has long been a precarious one in the UK mortgage market. This will only be enhanced as the Government drives to build 1.5 million homes before the next election, amid a changing regulatory environment and constant market evolution.

As homebuyer expectations change, regulation shifts and the market feels a growing pressure to improve the homebuying process, technology and data optimisation will be key.

With this, however, comes the need to understand how increased data transparency and digitisation might affect the landscape, and how lenders – and borrowers – can stay protected and compliant in a rapidly changing market.

Reform and regulation

To hit the kind of market movement needed at the moment, not to mention reach Government targets, something must change, and this goes beyond simply pushing for more housing delivery.

Craig Underwood, chief operating officer at Movera, says: “Over the next 18 months, we need to see something more radical from the

Government to show us that this isn’t just a case of us just carrying on with business as usual.”

The ‘Home Buying and Selling Reform’ consultation says the current process “is long, complicated and frustrating” – for an industry that completes around 1.2 million transactions a year, contributes around £100bn annually to the UK economy and employs 1.2 million.

The consultation adds: “It takes an average of 120 days to complete once the buyer’s offer has been accepted, and transaction times have increased by 60% since 2007.

“Around one in three transactions fail, costing buyers and sellers around £400m per year in wasted costs.”

The Department for Levelling Up, Housing and Communities (DLUHC) calls its proposals “the biggest shakeup to the homebuying system in this country’s history,” including, among other things, the introduction of digital property logbooks to store current and historical information on a home. The consultation says: “We want to see innovative technology that harnesses the power of artificial intelligence [AI], underpinned by data that is consistent, trusted, and shareable across the market.”

parts slowing the process down further. Stevens adds: “The reason why most of our offers last six months is that it can take that long for the transaction to complete.”

Valuations are a key part of the homebuying process that has historically caused delays, but that has the potential to be transformed by technology and data.

Andrew Vaughan, head of customer management at e4 Strategic, says: “Automated valuation models [AVMs] have changed the industry radically since they were introduced in the late 1990s.

“No o ence, but I’d rather not deal with a human”

In June, the Department for Science, Innovation and Technology passed the Data (Use and Access) Act, which it said will allow the growth of digital verification services and “smart data schemes like Open Banking.”

The department says this legislation, which adds to General Data Protection Regulations (GDPR) passed in 2018, is “a permissive framework under the UK GDPR for organisations to make decisions based solely on automated processing that have legal or similarly significant effects on individuals.”

However, it adds consumer “safeguards,” which say that firms must provide people with information about significant decisions made about them, and allow “human intervention” to challenge these decisions. The Government adds that part of the aim of the Act is to make data “rules simpler for organisations” and to “encourage innovation.”

Automating the process

Rob Stevens, head of property risk at Nationwide, says that the time it takes for the mutual to offer a mortgage depends on whether the application journey can be automated.

If it is a digital process, the mutual provides instant offers, but it can take, on average, around two weeks if a manual process is required.

The time to get a mortgage is only part of the efficiency equation, however, with other moving

“In the early stages, lenders used them as due diligence to review their mortgage portfolios.But now they are used widely by lenders on low loan-tovalue [LTV] deals, where the bank has less money at risk, and remortgages, where a recent valuation exists.”

In just over 25 years, AVMs now account for between 30% to 40% of all valuations.

These computer valuations weigh up a range of data, such as the sales history of a property, when it was built, and sale prices of similar homes in the area, to produce a valuation in seconds. This is compared to the hours it might take for a surveyor to physically inspect a property.

It is also quicker than desktop valuation, where surveyors use a mixture of online data, house plans and pictures to assess homes – including newly built buildings and even unfinished properties.

For large lenders, which value millions of properties a year, the appeal of an AVM is clear. At scale, they range from a few pence to around £2. This compares with between £85 and £150 for a desktop valuation, to between £150 to over £1,000 for a complex physical survey.

Nevertheless, AVMs have their drawbacks. For example, they need a range of data to reach valid conclusions. They are, therefore, less reliable on remote rural properties, compared to an urban row of terraced Victorian houses with lots of recent house sale information. The system also works less well on new-builds for the same reason.

Firms are exploring the greater use of AVMs on new-builds, given the Government’s ambitious housebuilding targets. Currently, though, AVMs are used on only around 10% of new-build homes.

Bad data is also a problem. While the push to build and sell more houses – and get

Digital homebuying alternatives

Scotland

Upfront material information for buyers already exists, along with more binding contracts between buyers and sellers, resulting in fewer fall-throughs.

Norway

Transactions complete in four weeks or less, with digitisation driving estimated savings of up to £1bn over 10 years.

Australia

Homes can be bought through an end-to-end digital process operated by the online property completion platform provider PEXA.

Finland

Digital real estate system Dias enables customers to complete transactions digitally, including signing all documents and contracts online. Transactions are completed in around two weeks.

Estonia

Homebuying and selling is highly digitalised, and the Estonian Land Registry is wholly online. The system is supported by key digital infrastructure, including digital signatures and interoperable services.

Source: ‘Home Buying and Selling Reform’ consultation, October 2025

buyers of all types moving up and through the property market – is driving the uptake of these new systems, they do necessitate a certain level of caution.

Lorenzo Tejada-Orrell, chief innovation officer at CLSQ, says: “The danger is that inaccurate data, especially data that has very little interpretation, can flood through the system, causing potential delays during the property transaction.”

Stevens checks his AVM valuations against similar physical surveys each month.

He says: “We need to understand where the model is accurate and where it is not.”

While progress is being made in the realm of automating valuations, the use of artificial intelligence (AI) in property valuation is another step into the future, and one that not many people feel prepared for.

Stevens says: “We are looking at it. But we are not looking at anything live at the moment when

it comes to property valuations and have no immediate plans to do so.”

Simon Cowdell, head of intermediary sales at 360 Lifecycle, says he is “concerned” about the use of Al in the home loan market.

He explains: “AI can produce decisions weighted towards various concepts, whether that be region, gender, race, age, or whatever.

“That means because of a particular bias, these systems can wrongly decline customer loans, or recommend higher rates.”

Cowdell extends his concerns about the use of AI on all sides of the transaction, adding: “AI may also produce an unfair playing field for consumers at a time when the Financial Conduct Authority [FCA] is proposing to allow homeowners to sign more remortgage deals without advice.

“They may have access to tools like ChatGPT, but that does not compare to the millions of data points that lenders or advisers have.

“That could lead to consumers unwittingly making bad decisions.”

Indeed, Nikhil Rathi, chief executive at the FCA admitted there would be “trade-offs” between the looser lending standards it is allowing, such as higher loan-to-value (LTV) loans, and the current historically low figure of around 1,000 possessions a quarter, when he appeared before the Treasury Committee in March.

Conveying the challenge

When it comes to conveyancing, Underwood says this part of the industry “is a tech-led business,” but admits that at this stage of a home move, “there are operational frictions, which the industry has never been able to grapple with.”

Many across the mortgage business agree that weeks could be saved at this stage of the process. They cite customers having to provide the same identity and proof of funds documents three or four times to estate agents, lenders and legal teams.

James Tucker, chief executive at Twenty7tec, argues that the conveyancing stage is a key “bottleneck,” which he describes as “painful, expensive and slow.”

Tucker says that if the homebuying process is to move from around 120 days to a desired 28, industry losers will be those that are slow to move to digital working.

“We cannot have a market running so inefficiently that players in it are able to monetise that slow movement,” adds Tucker.

Michael Grant, head of sales at TAB, agrees that the process “needs less red tape,” but Countrywide director of technical services

Martyn Stones warns: “There is not enough data p

“We’ve pre-denied your mortgage – our data says you might miss a payment in 2029”

sharing at this stage, and to build momentum, Government will have to support this with legislation.”

Stones continues: “This is why the industry will look to see how the administration moves forward with its consultations, which ask the right questions, at the end of the year.”

Quality data

Lenders are clear that they must be able to trust any data being shared throughout the housebuying chain.

Stevens says: “We will have to know the provenance. We will have to know its source and ensure that the data is accurate enough to make lending decisions based on it.”

Theo Brewer, director of analytics at Hometrack, agrees: “Data is commercial and valuable. Every actor in the property market wants to get their hands on key information and take a view on it themselves.

“A key move here could be trusted bodies such as Ordnance Survey and the Land Registry further opening up the data they hold, across areas like land and title deeds, because at the moment access is limited.”

But Cowdell points out that there is “a nervousness” about the use of shared open data

among lenders. He says: “What needs to happen is that Government, lenders, the FCA and broker networks have to get into a room to see what standards they will accept on things like anti-money laundering [AML] checks and identity verification.

“The issues are trust and accountability. Can the various parties trust that the data they are receiving is correct? And if it is not, who is accountable?”

The Government’s second consultation, ‘Material information in property listings’, is a natural conclusion to the territory staked out by the first document.

It outlines a list of information about a residential property for sale, which it wants to see provided upfront by estate agents to potential buyers, in a bid to cut transaction times and collapsed sales.

The DLUHC says this information should cover tenure, Council Tax band, Energy Performance Certificate (EPC) rating, property type, legal and transactional information such as title information, seller ID verification and leasehold terms.

The list also includes building safety data, standard searches, property condition assessments tailored to property age and type, service charges, planning consents, flood risk data, chain status, and clear floor plans.

The push to provide greater material information has echoes of the Home Information Packs, introduced by the last Labour administration in England and Wales in 2007. These were short-lived, scrapped by the coalition in 2010, which called them “expensive and unnecessary.”

However, Steve Lees, associate technical director at Countrywide, argues that these new packs may be better received this time around, adding: “The industry has access to much more digital information than there was at the time of the Home Information Packs.

“The new material information packs are intended to be predominantly digital, whereas the Home Information Packs were a collection of less detailed paper documents. Lenders never got behind the previous packs.”

The DLUHC says pulling together this set of material information is best handled by estate agents before homes are listed for sale.

However, it admits this will be “challenging” for estate agents, as key parts of this work will require a surveyor.

Indeed, in October, Propertymark found that currently fewer than 50% of agencies p

The role oF AI For high street lenDers

Dr Paul Dongha, head of responsible AI and AI strategy at NatWest

THE FOUNDATION OF A financial institution’s operations relies on using IT systems that are not only resilient, but also accurate and fair.

Artificial intelligence models find patterns in data they are trained on, and these patterns form the basis for how the model makes decisions and recommendations. However, in exceptional cases, there is a risk of algorithmic bias appearing in AI models.

As a bank, we have to ensure that we don’t allow this to happen. The financial decisions we make – relating to everything from mortgage approvals to loan decisions – impact people’s lives and their futures. We therefore aim to take the necessary steps to ensure our AI models make correct and fair decisions.

Central to our approach is our AI and Data Ethics Code of Conduct. The code outlines our fundamental principles regarding the ethical use of AI and reflects our aspirations to foster responsible and transparent practices.

It also contains principles that govern how we use and process customer data and how our AI systems are developed and used. The code gives all our AI engineers a framework through a set of high-level principles that they need to work within.

It works towards ensuring: that our AI systems are subject to human oversight, and that they respect and promote human agency; that they are technically robust, resilient, and safe, so we prevent unintentional harm to individuals; that we comply with privacy and data protection laws; and that decisions or predictions that they produce can be explained to customers and are free from unfair bias or discrimination.

Cases deemed high risk, referred to as ‘edge cases’, are formally discussed in our AI and Data Ethics Panel, which evaluates the ethical concerns based on the principles in the code and makes recommendations as to how potential ethical risks should be mitigated.

Each member on the panel represents our different stakeholder groups – including customers, colleagues, communities, shareholders and investors, as well as future generations.

“are compliant with material information requirements and could be vulnerable to enforcement action.”

Despite this, Timothy Douglas, head of policy and campaigns at Propertymark, says that the Government’s drive for material information packs is “opening up a conversation that looks to pull together best practice across the industry.”

For Propertymark, a key date is next spring when the housing department is expected to come back with proposals from both consultations.

The industry also expects to see the department’s delayed housing strategy, which in July it pledged to publish “in the coming months.”

Douglas says: “These documents should set out a roadmap for reform. They will give the industry a clearer direction of travel.”

Starting the sprint

Many across the industry have long heard cries from the Government and regulators about the need to drive radical change in the housing market – only to see tinkering at the edges.

At the very time of writing, however, the FCA has commenced a three-month ‘TechSprint’ with home loans industry firms to “simulate and test data sharing,” suggesting that the time may well have come for real movement to start.

The regulator says: “The aim of the Mortgages TechSprint is to explore and test how open finance and smart data can enhance the mortgage journey by developing practical solutions that improve access, affordability, and consumer understanding, while informing the FCA’s regulatory approach and supporting broader Smart Data Accelerator initiatives.”

The test will be run by tech firm Raidiam, which has pioneered moves toward open finance and open insurance in Brazil.

The message is clear: the mortgage and homebuying process can no longer rely on incremental tweaks or isolated pilots.

With Government consultations underway, new legislation enabling smarter data use, and the FCA actively testing open finance solutions, the conditions for genuine transformation are finally aligning.

Yet technology alone cannot solve the problem. The prerequisite is trusted, accurate, shareable data – and a framework that gives lenders, brokers, conveyancers and consumers confidence in how that data is used.

Without this foundation, automation could introduce as much risk as it removes. ●

Engineering change to meet the new era

Aquiet evolution is underway in the UK mortgage industry.

For decades, lenders have been dealing with highly complex technology stacks, amalgamating processing systems, origination platforms and servicing capabilities from multiple institutions as they have grown through acquisition.

The risk of upgrading or transferring that technology to one systematised platform has been seen to outweigh the benefits it would deliver. That has changed – significantly.

Lending dynamics have shifted in the past few years, with customer retention increasingly important for lenders as refinancing volumes increase. The rise of mortgage rates after a decade of the Bank of England base rate being extremely low has pushed affordability strains out of the woodwork on existing lending.

Broker introduced business has continued to take a larger share of origination. The economy hasn’t been in a great place for several years now. Inflation has been harrowing for millions of households, piling on the financial pressures for borrowers. We’ve had more and more and more regulation to contend with – the Consumer Duty, net zero compliance, Basel 3.1. Climate risk has accelerated. We’ve had flooding. We’ve had heatwaves.

Lender tipping point

Pricing is still pivotal when it comes to market share, but this is far truer for the biggest lenders on the high street than for the larger and medium-sized building societies.

Here, service matters, and arguably plays a larger role in the decisionmaking process for intermediaries – particularly for those cases that require a bit more thought when it comes to underwriting the borrower or the property.

The market has seen another wave of mergers and acquisitions over the past 12 months or so, which has created further impetus for lenders to review how their platforms perform across the piece.

As a result, it is becoming increasingly clear that there is a race to implement significant digital infrastructure that delivers on all fronts. As lender systems become more flexible and more able to integrate via application programming interfaces (APIs) with third-party providers, the options available to those in risk and credit control are broadening significantly.

Data is commonly referred to as the oil of the new digital world. But to make the most of its gifts, systems and infrastructure require change.

A common issue for lenders across the market, and of all shapes and sizes, has been their inability to access data and use it meaningfully. Changing the tech stack changes this picture – and lenders want the competitive advantages offered by data.

It makes complete sense. Inefficient processing means higher overheads and the choice between sacrificing margin, raising prices or cutting costs. The last is by far the more attractive option.

Digital investment is how lenders are doing that – there are upfront financial commitments, yes. But the efficiencies gained are now easily outweighing that initial outlay.

Efficiency comes in all kinds of forms, too, typically centred around capacity. Getting that right delivers significant efficiencies. The quicker transactions are processed, the cheaper it is to originate each loan.

Add to that improved processing efficiency the use of automated valuation models (AVMs), complex underwriting for portfolio landlords, artificial intelligence (AI) to detect fraud more effectively, and it becomes much easier to see how to preserve

MARK BLACKWELL is chief operating officer at Cotality

profit margins longer-term. All these things are underpinned by the better use of data. Lenders want access to it and there are reams of it out there.

Data advantage

The next challenge is connecting the right data in the right way to allow lenders to use it to their chosen advantage. Part of the reason the mortgage market has struggled to keep pace with technology developments seen in other sectors is down to the fragmented value chain operating in this market.

There are so many moving parts, so many players – somehow we all have to communicate with one another. In some bits of the industry, that communication still relies on emails going back and forth between individuals. Things are missed. Mistakes are made. Questions are forgotten early in the process and must be asked later down the line.

According to Zoopla, home purchase typically takes six to seven months from offer to completion. Much of that is down to the delays caused by an aging infrastructure to support the exchange of data. Brokers will tell you this every day, and lenders are not only listening, they are beginning to act.

The purchase market is currently in a ‘wait and see’ period, with buyers and sellers sitting tight until the Autumn Budget is done and there is clarity on some of the more significant tax policy changes.

Meanwhile, under the bonnet lenders are getting their houses in order. I think the market is about to go through a period of meaningful technological change not seen for years. It will take time and effort, but it’s underway. ●

Effortlessly assist a better borrower experience

As we edge closer to Chancellor Rachel Reeves’ long-awaited Autumn Budget, there is a change of mood in the country. Reeves has acknowledged that recent changes in the economic outlook mean it is no longer realistic to assume “no more tax increases” for the rest of this Parliament.

Among the swirling rumours, there are several that would affect the housing market. One reportedly being considered is reform of Council Tax, either introducing new bands or replacing the system entirely with a new local property tax. This would be based on the property’s market value, with rates set by individual local authorities and a possible cap that would see the levy paid only on homes up to £500,000, with a minimum annual payment of £800.

According to a paper by Tim Leunig for the think-tank Onward, which has reportedly some influence on Treasury discussions, the rate of 0.44% would raise the same amount of revenue as Council Tax. Under his proposals, the tax would be introduced immediately, on all properties, and would be payable by the owner, not the resident.

Above that threshold, a new national property tax would become payable on owner-occupier homes worth more than £500,000, paid by the seller on the sale of the property. Rate would be determined by central Government and adjusted annually for inflation. Together, the local and national property tax would replace Stamp Duty entirely, a tax long considered disproportionately unfair. This would remove upfront costs for buyers. However, as with all central Government policy – and local policy, for that matter – there will be

unintended consequences. It’s highly likely that any saving made by the buyer on purchase would simply be added to the asking price by the seller – especially on homes worth more than £500,000.

There are already signs that properties over this value are not moving – either because borrowers are waiting to see whether the rumours will become true, or possibly because buyers are wary of committing to a purchase and paying Stamp Duty, only to be landed with a seller’s tax on the way out. Effectively, buying a property for over £500,000 now looks like you’ll be paying property taxes twice.

There’s also been further talk of introducing a mansion tax, which would scrap the existing Capital Gains Tax (CGT) relief on the sale of a person’s main residence, where the property’s value exceeds a certain threshold. At the moment, that’s rumoured to be around £1.5m.

Over the summer, The Guardian reported that Government officials were ordered to explore how the new ‘proportional’ national property tax on homes sold for more than £500,000 would work, and to model its potential impact.

Leunig’s paper argues that the rate set by central Government initially should be 0.54% annually, with an additional 0.278% surcharge on property values exceeding £1m. By setting rates at this level, the Treasury would – in theory – raise the same level of income that it currently receives in Stamp Duty receipts.

Budget aside, if house moving pauses or slows, then retentions remain key. The general consensus is that for the first time ever, refinance lending is set to outstrip purchase next year. There are plenty of reasons for this, including a rising wariness

HAMZA BEHZAD is business development director at Finova

about the jobs market, constrained affordability and very high prices in the South East and other pockets around the country. For lenders, then, the focus over the next 12 months must be retentions. Fiercely competitive pricing will work for the largest lenders in the market – for others, there must be other differentiators.

Digital experience

Brokers are calling for simpler systems that save time, reduce administrative costs, and eliminate unnecessary friction, a critical factor if your intention is to retain borrowers who could probably remortgage onto a marginally cheaper rate elsewhere. A smooth, direct digital experience is also the deciding factor for a growing number of younger borrowers and for those now in their 40s. If switching to a new product with their existing lender is hard, it’s increasingly likely they’ll defect to a provider that offers a more intuitive or accessible process.

The key to improving customer retention lies in better digital experiences for advisers and borrowers. Competitiveness in the cloud technology market means lenders can get up and running far faster and cheaper than previously, and the self-funding business case –with its high return on investment multiples – makes the investment decision an easy one.

We’re already working with a wide range of lenders to get them retention ready. If the path of least resistance becomes the business model for better retentions, the entire lending value chain will need to support the delivery of that effortless customer journey. ●

Q&A

The Intermediary speaks with Stuart Cheetham, CEO of MQube, about positioning the business at the forefront of the tech revolution

As we look ahead to 2026, what do you see as the biggest shifts for the mortgage market?

e adoption of arti cial intelligence (AI)-driven technology will by far drive the biggest shi for the mortgage industry in 2026. Lenders that do not embrace technology in 2026 will fall behind, losing their competitive edge, and those that do will lead the next era of mortgage lending.

Banks, in particular, have had the same legacy systems for too long. ese have created ine ciencies, errors and unnecessary delays with the mortgage process.

In 2026, we will see more banks and non-bank lenders embracing technologies, such as AIdriven mortgage origination systems and agentic AI, as they seek to both create operational e ciencies within their businesses that allow them to scale up and increase volume, as well as improve the overall broker and end customer experience.

At MQube, we believe delivering a mortgage o ers or a decision within a day should be the norm. Our Origo platform has proven to do just this, delivering 97% of customers a mortgage o er within 24 hours, a huge improvement on the three week industry average – enabling ever more lenders to generate fast o ers and decisions to customers is a the top of our wish list for 2026.

Are we at a tipping point for tech adoption in mortgages, or is there still resistance?

Yes and no. Yes, more and more lenders are starting to embrace technology, but there is still a long way to go. Banks have the data, the reach and the brand awareness, but they just need the right tools to unlock their potential. is is where AI comes in. Banks lack the technological expertise in house, and we will see more banks look to ntechs to provide them with the tools they need to drive change.

How is MQube positioning itself at the forefront of that transformation?

MQube’s AI-driven business model is focused on technologies that create operational e ciencies for lenders to allow them to scale up and increase volume as well as improve the custom and broker experience. Its core technology o ering is focused on its mortgage origination platform, Origo, which has been adopted by some of the UK’s largest building societies, including Nottingham Building Society.

e platform not only has the ability to assess and automate data and documents in real time – such as ID and bank statements – using big data and large language models (LLMs), but it can also mirror the work of a human underwriter by suggesting rationales, in human-like language. e platform is centred around speeding up and streamlining the mortgage journey, reducing workloads and giving all parties involved a better experience.

Not only this, but MQube o ers many other AI driven mortgage technologies, including Criteria Genius, its sophisticated AI chatbot, which provides instant answers to broker questions relating to a lenders policy.

A more recent development MQube is working on is an architecture that will allow mortgage lenders to trade their mortgage debt on-chain, unlocking a new level of opportunity for lenders in the UK.

We look forward to using our market-leading expertise in AI to bring even more technological advancements to this industry in 2026.

Will broker rms need to evolve to stay competitive?

Advancements in lenders’ technology will allow brokers to will grow their businesses and improve their customer service levels in 2026.

e growing presence of AI in this industry is an opportunity, not a barrier, and we would encourage brokers and lenders alike to embrace

it. As with many other industries, it will be the de ning factor that underpins this market in the future.

As technology becomes more embedded in advice, how can brokers maintain control of the customer relationship?

AI will mean brokers have more time to focus on their customer and harnessing their customer relationships. It will free up hours of brokers’ time, allowing them to focus on lead generation and enabling them to scale up their businesses and increase volume.

Will we see a shift towards more collaborative ecosystems between lenders, brokers, and tech providers?

is is exactly what technology has the potential to do – moving away from a world where lenders and brokers operate in silos to one where collaborative technology connects everyone, leading to better customer outcomes, richer data, better risk pro les, and more.

already in operation in other parts of the world, including in the US.

How do we balance automation with accountability and regulatory oversight?

Ultimately, technology is here to support human expertise in this market, not replace it. e AI does the heavy li ing, freeing up resources, which allows lenders and brokers alike to scale up and increase volume.

In terms of balancing automation with accountability and regulatory oversight, AI supports robust risk management models. It allows for better auditability by automating data lineage, tracking where data comes from, how it is transformed and how it is used in decisions – moving away from a dependency on pdfs and spreadsheets which are onerous and prone to human error.

Finally, what’s on the horizon for MQube?

What role will data transparency and interoperability play in improving decision-making?

Data transparency and interoperability will lead to improved data accuracy and auditability, reduced risk of human error and faster mortgage decisions.

It also has the scope to lead to dynamic pricing – pricing tailored for the individual based on their credit and risk pro les. is could be a huge theme for this industry in the future, and dynamic pricing is

Our expertise in AI is both unique and unparalleled in this market, and we will continue to use it to bring even more technological advancements to the mortgage industry that will create more opportunities and improvements for the mortgage industry.

Recently, MQube tokenised £1.3bn of mortgage debt on the blockchain, in a revolutionary move and a rst for Europe. As well developing and expanding the reach of its core o ering, MQube will be focused on developing its blockchain architecture with the aim of enabling lenders to transact on-chain, increasing lenders’ liquidity and paving the way for a brand new securitisation market.

Fintech collaboration and ecosystem growth are our buzzwords for 2026 – the opportunities are real, and we are that opportunities and improvements for developing and ecosystem growth for – the opportunities are real, and we are excited about what 2026 will bring for this industry.

The need for ease cannot be ignored

When you’re working day in, day out, it’s sometimes too easy to forget to take a step back and notice the bigger picture. The usefulness of this exercise is particularly true when it comes to assessing change.

We often talk about change in the context of what is happening now, but decisions made years ago can often materially affect borrowers, brokers and lenders alike years later.

In 2022, when the Truss-Kwarteng double act delivered their miniBudget, it was a very serious wake-up call for lenders, which were faced with an immediate and significant swing in their cost of funds.

The only way to deal with it was to withdraw hundreds of products overnight and take the days it took to reprice and relaunch. There’s a lesson it’s worth remembering here – there were two very clear insights that moment provided for our industry. The first was certainty of funds. The second, speed.

I’d argue that another component has emerged since then – once, securing money was the only game in town, but today speed is not the only important consideration when an adviser is choosing where to take their client.

Today, the task of submitting business has to be efficient. Buyers are, quite understandably, growing increasingly impatient with the house purchase process. It’s clunky, takes months without any obvious – to them – reasons, and that lands squarely on the broker.

Invest in better

I’ve said before that, for the majority of lenders in the UK, there is a rapidly rising and unignorable need to work out how to meet demand more efficiently.

A recent survey carried out by Nottingham Building Society revealed that two out of five intermediaries said the mortgage process is the same or slower than it was two years ago.

A third said lenders needed to invest in better technology to streamline the application process and help borrowers secure their homes more quickly.

This scratches the surface of the issues they are dealing with day-today. There is even a question around how delays and inefficiencies in the mortgage application and completion process square with the Consumer Duty rules.

‘Good outcomes’ doesn’t sound like stressed and anxious clients, desperate for clarity that their application will be approved so they don’t lose the home they want to buy suddenly.

Next year, there is due to be a boom in the amount of refinancing the market will need to deal with – I’ve heard various industry pundits say remortgage and product transfers will outnumber purchase lending in 2026 for the first time.

I have two things to say on this. The first is that there are going to be hundreds of thousands of borrowers who face a massive payment shock when their 5-year fix expires. These are people whose last experience of going through the mortgage application process was when the Bank of England base rate was 0.25%. It’s now 4% and may or may not be cut next year.

The panic they are going to be feeling when they have to go through refinancing will be palpable. Brokers will be the ones manging that anxiety, and prolonging it as a result of inefficient application systems that have been underinvested in for years? It’s not what lenders want to be associated with.

Brokers know this – and their irritation with lenders that cannot provide an efficient process and

JERRY MULLE is UK managing director at Ohpen

Buyers are [...] growing increasingly impatient with the house purchase process”

certainty for their clients within a reasonable timeframe is growing.

I read a recent article on the BBC which quoted a broker who said, explicitly, that lenders have not invested in upgraded IT services, the delays that result really impact his clients at an already stressful time, and even that “getting a mortgage today takes far longer than it did 20 or 30 years ago.”

A 2023 study from Market Financial Solutions found that 64% of borrowers struggled with stress and anxiety during the mortgage process. For first-time buyers, it was a shocking 8%. Around half of those surveyed said lenders should be offering more support and communication about product changes. Seven out of 10 said using a broker felt ‘essential’ just to cope.

The time is now

It’s almost three years later, and if anything, I’d argue the situation has deteriorated rather than improved. Whether the market is busy or not, inefficiency costs everyone time and money. It also causes intermediaries stresses and strains that are unnecessary.

Today, ease and speed are what brokers demand of lender systems, and they’re voting with their feet. ●

A £30K INCOME IS NOT NEARLY ENOUGH.

What is holding back desktop valuations?

It was welcome news to see the Government turn its focus to improving the homebuying journey, which could see four weeks shaved off the process if proposals go ahead.

While not all of it related to the new-build market specifically, much of it rang true – namely, the need for property professionals to have the right information and data at the right time to make swifter decisions for borrowers with greater certainty.

Around the same time as the Government launched this consultation, Skipton Building Society told us it would be initially instructing desktop valuations for all new-builds unless exclusions applied.

In the second-hand market, this news may be nothing to write home about. But in the new-build sector, where I’m told by my valuer colleagues that around 10% of new-build surveys are desktop, this is certainly something we’re excited about.

It got me thinking: why aren’t desktops more widely used in our market? This would certainly improve the efficiency of the homebuying journey. The greater use of desktops would go some way to speeding up the process and meeting at least one of the Government’s objectives.

Data enabler

To find out, I got on the phone to several valuers to ask why they’re not more widely used. I was surprised by what I discovered.

Aside from the general blockers to desktop usage – lender risk appetite, lack of a suitable warranty for the site, or just not enough comparables – the inconsistent access to data about a site, which I thought would be made available more centrally, was what struck me the most.

“Data is the enabler of remote valuations,” I was told by one leading firm that carries out desktops for many of its lenders.

Skipton’s panel valuers obviously have the right data. Skipton told

The greater use of desktops [in the newbuild market] would go some way to speeding up the process and meeting at least one of the Government’s objectives”

me its motivation for making the change boiled down to its desire to drive efficiency benefits – not just for itself but for brokers, borrowers and developers.

Not all surveying firms, she said, have access to the property and development data that a lender needs if it is to be comfortable enough to accept the risk.

Tall orders

So, inconsistencies in the amount and quality of property data that individual surveying firms hold or can access plays a big part in how many desktop valuations are carried out across the new-build market.

But there’s another issue, too – one which seems astounding to me given, the digital era we live in.

Without a copy of the UK disclosure of incentives form in their possession, even a surveying firm that’s got data

HELEN PIERSON is director at MAB New Homes

bursting out of its ears will not be permitted by the lender to carry out a desktop val.

If the UK DIF isn’t obtained within the lender’s service level agreement (SLA) you can say goodbye to a desktop.

It was described by one valuer as “an industry challenge” that’s been around for at least 20 years.

Volume developers, I’m told, tend to use an automated process here, but with small to medium enterprises (SMEs), it’s a case of waiting for them to send it by email.

Given that developers can be closed for two days during the week –obtaining this inside the lender’s SLA is a tall order.

Innovation, automation

One of the Government’s objectives for home buying and selling reform is to have faster, more reliable transactions enabled by better digital tools, a streamlined process and reduced repetition.

I completely agree. That means here in the new-build sector we need more co-ordination of the collection and accessibility of central documents – such as site information sent to NHBC and the open sharing of data across valuation firms – so where appropriate, desktops can be carried out in much greater volumes.

Innovation is happening and improvements to automation are coming, but it needs to be more joined up. Let’s come together and make it happen. ●

We need to talk ab

It’s fair to say that nearly every broker firm will have a customer relationship management (CRM) system. It’s the place where data lives, pipelines are tracked, and compliance boxes are ticked. But if you talk honestly to advisers, few will say they love it.

In most cases, the CRM feels like a necessary evil. It’s a system that everyone is supposed to use, but few are truly motivated to keep up to date.

The irony is that CRMs were meant to make our lives easier. Yet over time, they’ve become tools that need enforcing rather than embracing. Managers must chase, remind and even incentivise advisers to log their activity. Data gets entered inconsistently or after the fact.

For many, the CRM doesn’t so much reflect what’s actually happening in the business, but how much time advisers didn’t have to record it.

That disconnect matters, because advice is built on relationships, not record-keeping. The record-keeping is something you need to do, but it won’t grow your business. And when your central system adds friction rather than removing it, it’s a sign that something’s gone wrong.

The motivation problem

The traditional way of driving CRM usage is through either compliance pressure or incentives. The stick is: ‘If it’s not in the system, it didn’t happen’. The carrot is: ‘Log your activity so we can track your success’. Both work to a point, but neither solves the fundamental problem – the system itself doesn’t deliver immediate, tangible benefit to the person using it.

When you’re an adviser managing dozens of live cases, the CRM can feel like admin for admin’s sake. The benefits of management data, compliance and reporting sit somewhere else in the business. The person doing the work gets none of the

gain, only the extra effort. That’s the problem with most legacy systems: they expect users to input before they get any output. They demand time before they give value.

Good technology shouldn’t work like that. Just think about your phone. No one has to remind you to update your diary, reply to messages or check your notifications. You do it because the benefit is immediate and obvious. If a CRM delivered that same sense of instant value to advisers, adoption wouldn’t need chasing. It would happen naturally.

Yesterday’s workflows

Most CRMs used in our industry were designed for a different era. They’re databases first, workflows second. They capture data, but they don’t help you use it.

Advice today is fluid – part call, part message, part document exchange. Yet most CRMs still sit on the sidelines, waiting for the user to feed them information. Advisers spend hours typing up notes, uploading documents, copying data between systems.

Every manual step is a point of friction, and every point of friction is a moment where data quality suffers and compliance risk creeps in.

We’ve reached a point where systems should be doing the heavy lifting, not the humans. If a system can’t support the way advice actually happens in 2025, then it’s not fit for purpose.

Manual to intelligent

Technology has now reached the point where this ‘old model’ no longer makes sense. There is artificial intelligence (AI) available today that can listen to client calls, transcribe them in real time, populate the fact-find, draft compliant follow-ups and even file documents automatically. It can build an auditable case record without an adviser typing a single word.

KARL GRIFFIN is CEO and co-founder at JammJar

Advice is built on relationships [...] and when your central system adds friction rather than removing it, it’s a sign that something’s gone wrong”

The result is a complete reversal of the traditional CRM dynamic. Instead of the adviser doing the work for the system, the system starts doing the work for the adviser. Compliance becomes a natural byproduct, not a separate process. Case files build themselves. Audit trails are automatic and complete. And, crucially, the benefit is instant. Advisers feel it immediately, with less admin, fewer repetitive tasks, and more time to focus on clients. Managers get cleaner data and real-time visibility. Clients get faster communication and a more human experience.

Power of immediacy

There’s a lot spoken about ‘digital transformation’ in financial services,

out CRM systems

but transformation doesn’t happen when a process gets digitised, it happens when the process disappears altogether. The biggest leap forward isn’t moving from paper to online forms – it’s moving from online forms to no forms at all.

When technology gives you the outcome without the admin, the motivation problem disappears. Advisers don’t need to be told to use it. They want to because it makes their day easier. When that happens, adoption isn’t just higher, it’s genuine.

The other advantage is scale. When a firm’s processes are automated and consistent, it can handle more cases without adding more people. That’s not just efficiency – it’s growth without growing costs.

Maybe the real issue isn’t that brokers are using CRM systems badly. It’s that CRMs themselves were never built for the reality of advice in 2025. ‘Customer relationship management’ implies something static, something you maintain. But today, we need systems that think, connect, and act.

The future isn’t a better CRM. It’s an operating system for advice – one that unites every part of the client journey, from the first phone call to the final audit, powered by intelligent automation.

That’s where AI is already making a tangible difference. It’s not about replacing advisers – it’s about removing the noise, giving them back their focus, and making the human part of advice even stronger.

The trouble with CRM systems isn’t just that they’re clunky or outdated – it’s that they’ve stopped serving the people who use them. It’s time to stop building systems we must motivate people to use, and start building ones people can’t imagine working without. This is what we’ve built with JammJar, and from the initial feedback we’ve had from advisers, we’re pretty confident that we’re on the right track. So, when it comes to thinking about your business, rather than asking whether you need a new CRM, maybe ask whether you need a new operating system. ●

In Profile.

Q&A

Jessica O’Connor speaks with Martin Boyle, chief operating officer at West Brom Building Society, about the mutual’s ongoing digital transformation

Martin Boyle has built a career around leading transformation. He began on the consulting side, helping major retail banks navigate technological change. “I eventually decided that I’d spent a lot of time giving advice, now I’d try and actually deliver something,” he recalls. That took him into senior leadership roles across the sector, including more than a decade at Nationwide.

As chief operating officer at West Brom Building Society, Boyle is drawing on that experience to help guide one of the country’s oldest building societies through a new era.

Digital transformation

For Boyle, the timing of West Brom’s digital overhaul is no coincidence. “The building society sector, with the exception of the large ones, are a bit behind in the whole digital agenda,” he says.

Customer expectations are changing fast, shaped by experiences in other industries where convenience and immediacy have become the norm. As Boyle warns: “You either digitise or die. You won’t go out of business overnight, but over time you will become increasingly irrelevant.”

That shift in expectations is what underpins the West Brom’s transformation plans – a comprehensive modernisation of both its systems and its service model. Boyle points out that while branches remain “fundamentally really important,” the current technology limits what customers can do.

“We’ve put a ‘digital veneer’ on the front end,” he says. “It still has a [Service Level Agreement (SLA)] of nearly three days to open a savings account. That will go to three minutes when we go live.”

The change, he explains, will deliver a “paradigm shift” in speed, convenience and responsiveness, without removing choice. Customers who prefer face-to-face service will still have that option, but those who want to transact quickly will be able to do so through a fully digital experience.

Much of this, however, depends on tackling legacy systems “built for a different era.” Older systems, he notes, make it difficult to integrate modern tools such as photo-based ID checks or artificial intelligence (AI) fraud detection.

Upgrades are costly, slow and disruptive. By contrast, newer cloud-native platforms offer what he describes as an “evergreen” model. “We benefit from the avoided cost of having to take big upgrades,” he adds. “We get huge flexibility […] whether for better fraud detection, better identity management, or better servicing.”

The transformation aims to give customers a faster and more intuitive way to manage their money, while preserving the security and trust that define the West Brom brand. Customers will be able to self-service everyday updates such as changing their name or address, while still having secure, direct communication with the society through the app. “We’re building security and resilience right at the centre of it,” Boyle adds.

BOYLE

Delivering change

When it came to selecting the organisations that would help deliver the digital transformation, Boyle was determined to take a different approach, he explains: “Typically, we write big, thick requests for proposals […] where we try and write all the requirements down. Then we send them out to lots of organisations, but you’re no further forward, because everybody says they can do everything.” This time, he wanted proof, not promises. “Very early on, I said you’ve got to put your money where your mouth is – you’re going to have to build me something. If you say this stuff is as flexible as it is, prove it to me.”

That challenge produced an unexpected result. Within just 10 weeks, Deloitte and 10x Banking built a functional branded prototype. “It wasn’t a full solution,” Boyle says. “But it was a very powerful demonstration of the credibility of the platform.”

After testing against several other market options and detailed due diligence, the West Brom opted to move forward with Deloitte and 10x. Their existing integrations, strong technical track record and ability to manage the service for up to seven years provided confidence.

Boyle says: “Show me stuff rather than tell me stuff. Then prove to me that you have got the financial muscle and credentials to build it, and the commercial savvy to run it.”

MARTIN

A human approach

Despite this considered move towards all things digital, the society is not interested in replacing people. Boyle describes the transformation as deliberately phased to ensure that the “human touch” remains central. “As more and more transactions are able to be done digitally, you find that it frees up some space in the branches for the moments that matter,” Boyle explains. “For those conversations where somebody wants to look someone in the eye.”

Building on this, the physical network is evolving rather than shrinking. The society recently introduced what Boyle calls digital “side-by-side” support across all of its branches, where customers can open new accounts or be guided through various options online with help from staff. That sense of community runs deep at the West Brom. Boyle speaks of the social role the branches play, from hosting local clubs and coffee mornings to running fraud awareness sessions and ‘meet the branch manager’ events.

For the intermediary market, meanwhile, the transformation promises a step change in speed.

“Fundamentally, it’s going to make it quicker, easier and better,” Boyle says. While the society’s legacy systems have limited what could be offered in terms of data and responsiveness, the new architecture is designed to change that, and “to give our broker community a better service with more information at the point of need.”

Although the society has yet to select its new mortgage sales and origination (MSO) platform,

Boyle is clear about the capabilities it must deliver: “It absolutely will have a broker interface with much richer information, much faster decision making, and much greater clarity.” The vision is for intermediaries to submit cases at any time of day, track progress in real time, and access answers without the need for a phone call.

For Boyle, this is as much about improving efficiency as it is about strengthening relationships. “It’s in our interest to make sure the broker only submits business to us that is going to be successful,” he adds. “That’s when our customers benefit.”

Only the beginning

With these foundations in place, the society will be well positioned to embrace new technologies that were previously out of reach.

Boyles notes: “Try and put an artificial intelligence engine, say for fraud detection, into some of these old systems, and you’ll be here for years. They’re just not built to work that way.”

The new infrastructure will open the door to tools that can strengthen identity verification, improve fraud management and enhance member experience in a meaningful way.

While the technology itself is crucial, Boyle insists the society’s success will ultimately depend on how well it blends innovation with empathy.

He concludes: “That’s the secret sauce. If you can get that human touch with digital convenience you can really grow your market share in a way that’s relevant in the 21st Century. That’s the essence of what we’re trying to do – that essence of choice.” ●

1981 | First Computer Installed (left)

This marked the beginning of its digital journey, enabling faster processing of customer accounts and internal operations.

1990s | Early Online Presence

As the internet became mainstream, the West Brom began experimenting with basic online information pages. This provided members with access to information beyond branch visits.

2011 | Launch of WeBSave

Introduction of WeBSave, a digital savings platform allowing customers to open and manage accounts online. A major step in providing self-service banking for members.

2019 | 170 Years of Service

While celebrating its 170th anniversary, the society highlighted its ongoing investment in digital services.The focus was on adapting to modern customer expectations and online engagement.

2022 | Launch of Savings Portal

Launch of the Savings Portal, a modernised online platform for managing savings accounts. Features included enhanced security, improved user experience, and mobilefriendly design.

2025 | Major Digital Transformation

West Brom announced a strategic partnership with Deloitte and 10x Banking to deliver a cloud-native core banking platform.

Benefits include:

1. Greater flexibility in launching new digital products.

2. Improved customer choice in how services are accessed.

3. Future-proofing the society’s IT infrastructure.

Making sense of data: How tech can bring clarity back

The mortgage market has always been fastmoving, but in recent years technology has changed it more quickly than anyone expected. New tools and platforms promise to transform the way advisers work, yet for many firms the challenge is deciding which innovations genuinely make a difference.

Technology has huge potential to improve the advice process, but success depends on how it’s applied. This is a people business. The goal isn’t to replace advisers with so ware, but to make their lives easier, their data clearer, and their clients be er served.

People at the centre

Technology is already part of everyday advice. Many firms now use automation to take care of repetitive tasks like gathering documents, updating records, or prompting key actions. Done well, it saves time, reduces errors, and helps firms stay compliant.

The best systems are the ones that support advisers rather than try to take over. Advice is built on empathy, understanding and trust, qualities that can’t be replicated by code. Technology should enhance those relationships, not create distance from clients.

Advisers need transparency. They should always be able to see what their systems are doing and why, with the ability to step in whenever necessary. Across the market, more firms are finding the right balance between automation and control, using technology to remove friction without losing oversight.

Data to understanding

If automation has made advice more efficient, data is what will make it

smarter. Every firm holds years of valuable information about clients, conversion rates and protection performance, yet too o en it sits locked away in static reports that offer limited insight.

The next stage of progress will be giving advisers a clearer, simpler view of what their own data is telling them. Instead of having to build complex reports or dig through spreadsheets, they should be able to get answers quickly and easily.

That is the direction we are moving in. We are developing new tools that help firms query and explore their data naturally. The aim is to make insight accessible, allowing firms to make faster, be er-informed decisions.

We’re already seeing how data can tell a powerful story. In Q3 2025, 360 Lifecycle facilitated £10.6bn in lending, up more than 20% year-onyear. This demonstrates the scale of trusted advice being delivered every day that puts people first.

It isn’t about predicting behaviour or replacing analysis. It’s about giving advisers an easier way to understand their own business. Data should work for them, not the other way around.

Using data responsibly

Every adviser needs to know their data is handled properly and securely. The principle is straightforward: the data belongs to the firm, and technology providers act as custodians who protect it and support responsible use.

There is also potential for anonymised, aggregated data to be used to support the wider market. Over time, this could help lenders, networks and advisers gain be er insight into emerging trends, which could lead to more informed decisionmaking across the industry.

Handled correctly, that kind of collective intelligence could be transformative, but it must always be underpinned by transparency, privacy and consent.

Innovation with integrity

The pace of digital change can feel relentless, but the answer is not to resist it. The answer is to innovate responsibly. The firms that will succeed are those that embrace technology while keeping fairness, accountability and transparency at the centre of everything they do.

Systems must be reliable, explainable and aligned with how advisers work.

Technology can and should help firms meet regulatory expectations and deliver be er outcomes for clients, but it only works when it complements the adviser’s role rather than replaces it.

Human in a digital age

The best technology operates quietly in the background. It removes complexity, makes processes smoother, and gives advisers more time to focus on their clients.

Tools that make data easier to understand or processes simpler to manage will continue to shape the future of the industry. The essence of advice will remain the same: people helping people to make confident financial decisions. ●

STEPHEN COWDELL is head of intermediary sales at 360 Lifecycle

Bionic advice: Digital precision, human expertise

Technology might permeate almost every aspect of modern life, but there will always be desire for human interaction and reassurance when making financial decisions – and that’s true for insurance just as it is for mortgages.

Recent YouGov research, conducted by Paymentshield with a sample of 2067 adults in September of this year, reveals that despite the strong marketing from comparison websites and online insurance providers, almost half (47%) of consumers would prefer to receive advice when buying home insurance – a substantial proportion actively welcoming the conversation, not avoiding it.

When asked why they seek advice, 35% of these consumers cite peace of mind as their primary reason, the single biggest driver. A further 28% said they believe they’d end up with a be er product.

Perhaps most tellingly, 56% of all respondents with home insurance say they’d be willing to pay more for it if it gave them peace of mind. Price, it seems, isn’t the blocker many assume it to be. Quality, confidence, and reassurance o en ma er more – all areas where advisers can really deliver value to their clients.

As consumers, we’ve grown to expect instant information that’s easily accessible. Customers want to see options quickly and be able to compare alternatives at a glance. It’s a key reason why 65% of respondents told us the reason they use price comparison sites is because it makes it easy to compare policies.

What consumers benefit from most could be called ‘bionic advice’: a powerful combination of digital tools that enhance an adviser’s ability

to deliver the speed clients expect alongside the human guidance they value.

Our research also shows that ge ing the right cover intensifies with the size of the household. Among households with three or more children, where time-stretched parents are juggling competing priorities, doubts about cover and whether the policy is the right fit rises to 42%.

These families likely face greater risk of accidental damage, or might have higher value contents simply due to more belongings, yet they’re the least able to dedicate time to understanding policy detail.

Value proposition

This is where advisers can deliver the most value for their clients. Being able to interpret each client’s unique situation and ensure cover matches their needs is absolutely crucial.

In the long run, combining bespoke understanding with the power of sophisticated digital platforms enables advisers to deliver the type of service that earns them a trusted client base.

We know how important this is to advisers. Whether they prefer our optimised quote and apply tool that generates accurate quotes in under one minute, or our Refer and Protect service to refer clients directly to our insurance experts, providing options that help advisers to work how they work best is crucial.

The most useful platforms complement advisers’ capabilities by enhancing customer service and automating repetitive and timeconsuming tasks, like re-keying information. This frees advisers up to focus on what they’re trained for – advice.

Another key piece of research to mention is Paymentshield’s 2025

ALISTAIR BROWN is national sales manager at Paymentshield

As consumers, we’ve grown to expect instant information [...] customers want to see options quickly and be able to compare”

Adviser Survey, conducted online in June 2025, which had 485 responses. This survey also underlined the growing demand for advisers and their expertise, as we found that almost 40% of advisers told us they have seen a rise in client demand for general insurance (GI) advice in the last 12 months.

Only a small proportion (12%) said their clients don’t want to receive advice at all. It’s clear that as technology becomes more sophisticated, demand for the human expertise that makes it meaningful will only increase.

The market will continue to evolve, and technology will undoubtedly become more sophisticated. But the future doesn’t belong to algorithms alone, it’s rooted in a powerful partnership between adviser expertise and digital precision.

The best technology in insurance should make advisers more human, not less. It should give them more time for the conversations that ma er, more tools to serve their clients excellently, and more confidence that they’re delivering the right solution every time. We’re here to help advisers make the most of this. ●

Spaciable Q&A

Marvin

Onumonu speaks with David Graydon, CEO of Spaciable,

about how data and technology can be used to transform the rented housing market

How is technology transforming interactions in today’s property ecosystem?

Technology has advanced enormously in property over the past decade. Where we once had isolated ‘spot solutions’ – such as a platform to help manage a workflow or a basic customer relationship management (CRM) to handle resident details – we’re now seeing a shift towards fully integrated systems that seamlessly connect the experiences of residents, managing agents, landlords, and service providers.

For instance, previously, if a tenant encountered a maintenance issue, it could involve several people, a fair amount of time, and significant confusion to identify the precise problem and resolve it.

communities. Tech allows us to collect and analyse data about sites, communities, and buildings, helping us make better decisions and anticipate issues before they arise. With the right systems, the sector can move from reactive to proactive, ensuring resources are directed where they’re most effective.

What role does data play in property development and management?

Now, with tools like ‘digital twins’ and ‘tenant engagement apps’, a resident can report an issue which is immediately relayed to the right contractor, who has all the necessary information before visiting. This results in problems being resolved more efficiently and with far less disruption.

Technology also helps managing agents and landlords identify where service can be improved, where efficiencies can be found, and how to control costs while delivering a great experience.

There is pressure to deliver more social and affordable homes – where can tech make the biggest impact?

Social and affordable housing is an area where technology’s potential hasn’t been fully realised yet. The key challenge is gathering, verifying, and using the right data at every stage, from securing funding to identifying sites to creating

DAVID GRAYDON

Data is crucial for meeting ambitious targets – like building 1.5 million homes. We need to understand, in detail, where the challenges lie –where the bottlenecks are, why delays occur, and who are the best partners for different parts of the process.

Accessible, trustworthy data allows everyone in the process, from the Government to developers, to make informed decisions quickly, run projects in parallel, and ultimately deliver more homes.

At Spaciable, we are passionate about making such data accessible to all relevant stakeholders – whether it’s property details for lenders, or usage and service information for residents.

How do you see AI, automation, and data analytics shaping the sector?

The impact of artificial intelligence (AI) and automation is only just beginning to be felt in our sector. What Spaciable does with digital twins, for example, enables mortgage brokers to gain a precise understanding of a property: construction, history, and any recorded risks or issues. This kind of data reduces uncertainty and can help accelerate mortgage approvals, which has benefits for everyone in the process.

Looking further ahead, AI will help not only with the logistics of building and funding new housing, but also with understanding trends –predicting where demand is heading, and helping developers plan for what is needed, not just what is immediately profitable.

For residents, the future looks seamless: connected homes that communicate with you, spot problems before they become crises, and continuously optimise themselves for energy usage, comfort, and safety.

We’ll see the industry become more datadriven and efficient, with residents enjoying seamless, connected living experiences.

How can digital tools help housing associations improve?

Housing associations face immense challenges in keeping on top of properties and proactively engaging with tenants about issues before they escalate.

For example, our resident engagement app lets tenants report issues directly, with image recognition to assess problems and send advice or help as needed. This saves resources, empowers tenants, and ensures funds are used effectively.

How are your digital tools fostering transparency and helping to build community?

In addition to the resident engagement app, we’re investing in tools that provide transparency about property construction and maintenance, like sensors and AI-driven diagnostics.

We’re also creating digital spaces for communities to interact and support each other.

Most importantly, we enable residents to form groups, organise activities, and build real communities, believing that digital tools should help create real-life connections – not just online chats.

This is relatively new as a mainstream feature, though we have always believed community is vital. Traditionally, some developers have been hesitant; they fear that if residents communicate, they will only amplify complaints or defects.

The reality is that people will always find ways to talk – through social media, if not through dedicated platforms.

We are actively encouraging a more open approach, providing the tools to build and nurture communities, share knowledge, and

support vulnerable residents. While this is still an emerging area in the sector, we believe it will be transformative in the coming years.

How can brokers leverage PropTech insights to better serve clients in specialist finance markets?

The more high-quality property data brokers have access to – everything from local market trends to detailed information about a specific property – the better they can assess risk, identify opportunities, and serve their clients.

At present, a significant amount of valuable data exists, but it is often trapped in silos or simply not available in an accessible form.

By making property, social, and economic data more open and letting AI interpret it, PropTech platforms enable brokers to make faster, more confident decisions.

How important is feedback to enhancing your technology?

Customer feedback is absolutely critical –especially for a company like Spaciable that prides itself on being close to the realities of the market.

We build feedback loops into all our technology, constantly inviting users to share their experiences and suggestions, and we iterate based on what we learn.

The quicker we can ‘close the loop’, taking new insight from customers and refining our product, the better we can meet their needs.

This approach of minimal viable product (MVP), relentless iteration, and closely listening to our users is a key reason why PropTech is advancing so rapidly nowadays.

What advice do you have for property professionals as the sector transforms?

Embrace technology before it embraces you. AI and emerging digital tools are transforming every aspect of our sector faster than anyone could have anticipated – even more rapidly, arguably, than during the internet age.

To stay relevant and competitive, it is vital to be open, adaptable, and proactive in adopting and exploiting these new technologies. Partner with trusted providers like Spaciable, keep an eye on the future, and above all, don’t stand still. ●

Unifying the mortgage market journey

We talk frequently about seamless advice journeys, frictionless submissions and integrated ecosystems that empower advisers and improve outcomes for their customers. Yet despite this shared ambition, the reality remains stubbornly consistent: virtually all advisers still operate within a fragmented system. Integrated in parts, yes, but fundamentally disconnected in how technology binds together the components of their workflow. Systems talk to each other, but they do not yet truly understand each other.

This disjointed experience is not due to a lack of innovation. In fact, the market is rich with excellent technology. The challenge is that each solution has evolved to solve a specific problem at a specific moment in time. Regulation changes, volatile rate environments and shifting consumer expectations have all shaped technology in incremental layers, rather than as part of a cohesive vision. The result is a disparate ecosystem built in stages. Advisers are left stitching the pieces together through their own expertise and time. Many also remain understandably cautious about leaning too heavily on technology, concerned that overreliance on automated data or system outputs that could expose them to errors or reliability risks they, ultimately, remain accountable for.

During periods of economic volatility, this fragmentation becomes even more apparent. It is not the quality of the tools that creates inefficiency; it is their inability to share context in real time. When

lenders act swiftly, advisers feel the operational burden unless the systems around them are unified, responsive and capable of interpreting data consistently.

This is why product alone cannot solve the market’s digital challenge. A lot of the technology focus within the market has been around creating product and connecting components of the journey, to try and deliver a more seamless experience for businesses. While this philosophy isn’t wrong, and will continue to play a role in delivering compelling solutions for users, there must be more of a focus around surfacing the right data at the right time for the right audience. Data creates a context bridge that caters for the uniqueness for each business or user – this is where product can only deliver so much.

When journeys are fuelled by realtime transferable data, they stop being linear processes and become tools of endless value.

Product isn’t the problem

Context is the missing ingredient, because context is what allows a journey to adapt to the user rather than forcing the user to adapt.

When we look across the industry as a whole, there remains a tendency to view integration as the end goal, as though connecting systems is synonymous with unifying them. But integration is only the transport layer.

Unification is about intelligence: enabling the journey itself to flex with the data it receives, the type of customer involved, the stage of the process and the needs of the adviser. Market conditions, whether through fluctuating rates, increased remortgage activity or rising regulatory scrutiny, have only intensified this need.

NATHAN REILLY is commercial director at Twenty7tec

At Twenty7tec, our sourcing capabilities, connectivity with customer relationship management tools (CRMs), lender integrations and consumer-facing solutions are built around the belief that technology must do more than present information. It must interpret it, personalise it and guide the user to the next logical step. The work we do is not about adding more systems to an adviser’s desk; it’s about improving the way existing systems communicate, interact and react.

Collaboration

However, the market cannot achieve true unification through the actions of any single provider. As an industry, we have too often treated technology as an area where firms compete for ownership rather than collaborate.

The best outcomes for advisers and consumers will come when lenders, distributors, technology providers and data partners work together to create shared frameworks. A unified experience will never emerge from closed systems or protectionist thinking.

Collaboration should not be viewed as a dilution of competitive advantage; it is the foundation on which competition becomes more meaningful. When everyone is working from the same high-quality, real-time data, innovation accelerates. When the market aligns, advisers stop being the glue and systems begin to operate as one. That is how we deliver with confidence and create an environment where advisers spend more time advising, not administrating. ●

In Pro le.

Q&A

Jessica Bird speaks with Neal and Dale Jannels, managing director and CEO at One Mortgage System (OMS), about the future of mortgage technology

From packagers to lenders, brokers to IT, Neal and Dale Jannels have experience across all facets of the mortgage market. is, and a growing realisation that something needed to change in the way the market handled data, led to the foundation of One Mortgage System (OMS).

With this foundation, the future is bright, Dale says: “We did £1.9bn in September in mortgage transactions, and I reckon we’ll probably process £40bn next year across the mortgage market.”

e Intermediary sat down with Neal and Dale to discuss how OMS has changed the game for brokers, lenders, and the market as a whole.

Legacy pain points

OMS was born out of the brothers’ own frustration with fragmented, outdated systems. Dale says: “Rather than upgrading our system and having to buy two or three to do what we wanted, we wanted to spend the money on one system that could do the whole process from start to nish.”

e Jannels built a single customer relationship management (CRM) system integrating broker, lender and packager work ows – essentially for their own use, building on Neal’s experience on the IT side. Before long, competitors and lenders were knocking on the door.

“People are stuck on legacy systems they can’t change,” says Neal. “ ey have to go back to the IT team. ey have to wait six months for testing. ey get a massive bill at the end of it.”

e impact of the 2008 Global Financial Crisis had only served to reinforce the need for solid systems that reduced individuals’ work ow without removing secure risk oversight and all the factors needed for sensible decisioning.

e Covid-19 pandemic brought with it further challenges that even the most agile businesses were ill-equipped to handle. In particular, it exposed weaknesses in server-based technology. OMS’ cloud-based approach came into its own, providing continuity when most felt untethered.

Neal explains: “For server-based businesses, if they can’t get into the o ce, they’ve got no way of getting all the information o the server. Being web-based means they can access their client information from home rather than having to be in the o ce.”

OMS saw “exponential growth over that period,” Dale says, adding: “ at started to really increase our interest in the market. We became an itch that a lot of people needed to scratch.”

OMS now serves more than 3,200 brokers with its CRM. It is also either live or in the build stages with 11 lenders on the origination side. OMS has a particularly dominant presence in packaging, with 90% market penetration, and has found a strong niche within the second charge sector, again with about 90% of brokers using the system. is year, OMS has partnered with major names, including L&C Mortgages, Nationwide, Interbridge, Selina and Admiral.

Flexibility and the future

At the core of OMS’ approach is removing the need to rekey, saving hours on every case, according to Dale. To this end, it includes more than 48 di erent application programming interfaces (APIs), to allow systems to communicate e ectively. Beyond this, OMS provides complete exibility, including the chance to update communication strategies, work ows, tasks, privacy, permissions and more.

e system itself aims for incremental, constant evolution, rather than waiting for one big push that might take months and cause mayhem. Neal says: “We tend to release new updates every two weeks, and brokers can choose whether they have these updated into their system or not.”

Dale adds: “We understood from day one exactly how it should be mastered. We’ve listened to our customers. We’ve not said, ‘right, this is where you must go moving forward’.”

is includes taking an adaptable, open approach to future technology – none of which looms larger than the subject of arti cial intelligence (AI). Dale highlights some practical uses for AI that will – and already do – have a positive

DALE JANNELS

impact on the mortgage market, such as “reading bank statements and payslips and highlighting areas of concern.”

All of this, ultimately, comes down to smoothing out the borrower experience. While OMS aims to do this with a system that does most of the administrative work, Dale feels that purchasing a home will always need to be more than just “ticking a box.” He adds, “you still need an underwriter to sense check everything.”

ere are some expectations, shaped by other industries, that the process should be faster, but it is unlikely that people will be comfortable with a completely non-human experience.

Dale says: “Is a rst-time buyer going to get all of their mortgage advice from an AI agent? No, they’re probably not. With so much information on the web and so much fake news, trust is becoming a huge factor for rst-time buyers.”

Collaborating with the competition

October saw OMS host its latest Tech Talk event, which brought together industry leaders to discuss how innovation, data and AI are transforming lending. Dale says: “I think we had 35 lenders in the room of various sizes, from the high street to building societies, specialist lenders, bridging lenders, second charge, and so on. It was a real way of sharing ideas and collaborating with regards to where each lender is with AI.”

Dale says this is key to maintaining a healthy market moving forward, while Neal adds: “We’re disrupting a market that has been sat there with two or three providers for 20 years. e nice thing is we’re not doing it on our own.

broader sense, the UK itself is slow to change old systems, which Neal feels means it is “massively behind the rest of the world,” partly due to the stringent regulatory system.

He continues: “Brokers, networks and lenders are all reliant on someone interpreting the [regulation] correctly and then implementing it in the day-to-day running of their business.

“But when dealing with brokers, networks, and lenders, we’ll get three, four, 10 di erent views on how Consumer Duty should be established.

“ at sti es change, because we’re still trying to make sure we’re doing everything correctly today, rather than in two years’ time.”

OMS is not “trying to reinvent the wheel,” Neal says, but focusing on working with people and businesses that “have that one area that they’re good at and attaching it to OMS via APIs.”

Real change will also come with a trusted data framework and shared ID capabilities. Dale sits on the executive committee of the Open Property Data Association and is pleased to see the movement “ nally actually get Government interest” in order to rationalise the many di erent stages of data gathering slowing this market.

In time, it will become a competitive imperative to adopt better tech and keep on top of these market movements. Dale says: “For those sitting around thinking, ‘we will make a change in a year or so’ – it’s going to be too late.” Rather than resting on their laurels, he urges businesses to act now, diversify, and choose long-term partners that will help them meet challenges down the road.

“ ere are other competitors that have launched

over the past couple of years as well. It’s great to have competition – we share ideas, most competitors are our friends, not our enemies.”

He says: “Don’t muck around, because the market is moving so quickly, and even the planning itself can take a year. ere are changes that need to be made right now, or you are going to get le behind. Customers, consumers, brokers, lenders, they’re all demanding di erent things within the automation journey – if you’re not on the bandwagon, you need to jump on.”

For brokers in particular, he recommends “looking at other business angles, including specialist, seconds, bridging, commercial,” not least to take advantage of areas less likely to be a ected by AI, needing a continued human touch.

Dale concludes: “Systems like OMS can help guide you and give you the tools to get into those markets pretty quickly.

market is unfounded, there are real concerns around cyber security snd risk. OMS prides itself on its security credentials, including ISO 27001 compliance. e ability to enact rapid change does not come at the cost of well-built and secure systems.

In a

“Everyone’s being brainwashed about AI and new tech, so do your homework, speak to existing clients, look at their nancials, look at their roadmap, have a chat with them about what’s coming down the road.

“You want to go with a new system for the long term, that will assist and grow with you and your business, not just one that might be around for a couple of years.” ●

Why delivery de nes success

Lenders are investing heavily in cu ing-edge platforms. Technology can transform how they operate, but only if it’s delivered well.

The good news? Delivery doesn’t have to be the Achilles’ Heel of transformation. With the right approach, organisations can turn complexity into confidence and land change predictably, safely, and at pace. Technology sets the ambition, but delivery turns ambition into outcomes.

Lenders talk a great game about modernisation, but it’s rarely as easy as the headlines suggest. The spaghe i systems of yesteryear still hum away in the background, with patches that predate many of the staff members maintaining them.

Delivery isn’t just about swapping out technology; it’s about untangling decades of decisions without breaking the business in the process. Legacy systems are the elephant in the room – complex, poorly documented, yet critical to day-to-day operations.

Ripping and replacing isn’t always possible, and pretending they don’t exist is a recipe for failure. The answer lies in pragmatism: stabilise what you have, decouple where you can, and phase in new capabilities without breaking the business. The lenders that succeed are those designing change around reality, not against it.

There’s a persistent myth that new technology solves old problems: replace the platform, automate the process, and efficiency will follow. The reality is harsher. Technology amplifies complexity unless delivery disciplines keep scope, dependencies, and operational readiness aligned.

A brilliant system delivered poorly is a liability, not an asset. Missed milestones ripple through organisations, frustrate customers, and invite regulatory scrutiny. In lending, where risks are stacked high,

the cost of poor delivery dwarfs the price of any so ware licence.

Ambitions that look good on PowerPoint but never make it to production are more common than anyone admits. This year’s project becomes next year’s delay, and confidence erodes with every missed milestone.

Delivery is complex and must be set up for success. It’s not just a project plan; it’s a choreography of people, skills, processes, and priorities. In lending, complexity increases because solutions o en span multiple platforms, third-party providers, and deeply ingrained processes.

Without a structured approach, clear decision paths, and a single version of the truth, initiatives dri , costs escalate, and confidence evaporates. Delivery demands as much design and rigour as the technology itself, and delivery thinking should be integrated into design, ensuring systems are not only technically sound but operationally viable.

Big-bang implementations are bold, but pile up risk and delay value.

A phased approach flips that logic: start small, learn fast, and land incremental benefits early. Each phase becomes a confidence-builder, proving the mechanics work, building trust in the team, and showing that ambitions are achievable.

Delivering successfully also depends on choosing the right partners. When selecting technology providers, the conversation o en stops at features and functionality, and that’s a mistake. The question isn’t just “Does the solution look good?” but also “Can it be delivered?”

A provider’s delivery capability is as critical as the technology itself. Ask how they approach change, what they need from the lender, and what delivery models they align with. Look for evidence of mature delivery capability, not just glossy demos sold in at the best price.

CHRIS WILSON is CTO at deploy12

Budgeting is another blind spot. Delivery is where the real costs and risks live. Consider what it takes to implement change safely, what capabilities you can offer, and what expertise you need to bring in. Delivery is not an optional extra; it shouldn’t be treated as an add-on or a erthought.

The strongest delivery partners combine practical industry insight and established connections across the technology landscape. They integrate seamlessly with your organisation, navigating complexity, building alignment, and keeping delivery on track. The right partner brings assurance by instilling confidence at every stage.

Not easy, but possible

Every lender faces similar challenges, yet the path forward is clear: prioritise delivery as much as technology.

The winners won’t be those who start the biggest projects, but those who deliver them well.

At deploy12, we’ve built strong relationships with the technology providers that underpin this ecosystem. These relationships allow us to understand challenges, move at pace, cut through bo lenecks, and reduce delivery risk. With proven, hands-on experience delivering transformation in the lending sector, we act as a true extension of your team.

Every decision we make is grounded in deep subject-ma er expertise, ensuring solutions are practical, compliant, and aligned with your business objectives.

If delivery isn’t designed into the solution, you’re not buying technology, you’re buying problems. ●

What AI means for structural change in the market

It’s easy to make grand, farreaching predictions about artificial intelligence (AI), as if nothing will be the same again. The reality is likely to be more nuanced. While the mortgage market is about to evolve, it’s perhaps not in the ways you think.

In fact, the fundamental structure of the mortgage market may not change, but the back office and room for manoeuvre will. The relationship between lenders and brokers is much more likely to be affected by moves from the regulators than AI. This was demonstrated recently by the removal of the advice trigger, prompting objections that brokers won’t have the chance to steer borrowers to the right product, and consumers will be worse off. That one simple change got brokers more animated than AI ever has, despite AI being described as the ‘fourth industrial revolution’. This shows that the presence of regulation and risk has as much to do with how AI is deployed as its capabilities. So, AI will change things, but the same guardrails that shaped the composition of the mortgage industry still apply, and AI will have to fall in line.

AI can’t pull rabbits out of hats. It’s only as good as the data you give it, and that’s where the lending and homebuying sector has been found wanting. Historically, digital transformation has been slow, fatigue has been rife and data sharing has been sluggish at best. The reason for this is that the industry’s data has been highly fragmented.

In the real world this leads to certain behaviours which all, without exception, add cost. For example, many lenders provide a mortgage and then have limited meaningful contact with customers a er, which means

opportunities for in-life servicing and retention are o en missed.

The amount of time it takes to complete a transaction has been ge ing longer, not shorter, hampered by wet signatures, restrictive data practices and the endless rekeying of information. Siloed data means conveyancing takes weeks longer than it should.The catalyst that will solve these problems is the same one that will set AI free to fulfil its potential. What’s good for digital transformation is also good for AI.

Horizontal integration

This catalyst is known as horizontal digital integration (HDI), where digital maturity, open networks and shared data standards unlock transparency and information sharing. This includes the ability to use verified data and permissions, even if you didn’t obtain them.

Two key examples are verified ID checks, and the ability to use unique property identifiers so that all relevant information is available to an agent and their buyer the minute they view a home.

An LMS pilot showed this could drastically reduce fall-through rates, a key pain-point for lenders, with cancellations running at over 300,000 a year, according to TwentyCi.

HDI is a relatively new term, but there have been a series of initiatives recently that embody it. This is encouraging; a er years of talking about it, it’s finally happening.

To name a few, the Data (Use and Access) Act received Royal Assent in the summer, which gives consumers the power to give permission for the reuse of their data. Land Registry now accepts Qualified Electronic Signatures, which will slowly consign wet signatures to history.

The FCA has launched its Smart Data Accelerator as well as a Live Testing environment where the most eager companies can start testing their AI tools on synthetic data.

Then, there’s the homebuying and selling reform consultation, which proposes more upfront information, as well as a greater commitment from buyers at the outset.

So, HDI is the backbone of a be er mortgage and homebuying journey made possible by technology, and it’s also the key to successful AI adoption. In fact, we o en refer to it as the ‘data spine’.

Change for lenders

This sort of transformation means lenders and brokers will be able to do things they’ve never done before. This won’t just apply to residential mortgages either, so expect product innovation across bridging and commercial, too.

Lenders will welcome higher net interest margins, faster drawdown and improved underwriting efficiency. This will lower rates, which –coupled with faster conveyancing, easier underwriting and more flexible affordability criteria – could give birth to a whole new range of borrowing options.

Competition will increase as those who exploit HDI best are able to reduce rates. Reductions of 25 to 75 bps wouldn’t surprise us, and that could make a huge difference to borrowers.

That’s the impact of trusted and transparent data available on day one of a mortgage application, as the whole ecosystem becomes greater than the sum of its parts. ●

PETE GATENBY is AI partner at Novus Strategy

Real transformation dem

For all the talk of innovation, the truth is that the mortgage application process remains stubbornly clunky. Brokers are dealing with duplicate data entry. Lenders are working through inconsistent information.

We’re all working harder than ever, but the mortgage journey remains disjointed, and that’s because the systems we’re working with were built for a different era and not to effectively meet today’s demands.We’ve improved the sophistication of affordability tools and sourcing platforms. But the core journey that actually gets a customer a mortgage remains fragmented. The fact-find is captured once but rekeyed. Each lender still operates their own portal with their own question sets. Documentation still travels in emails and uploads that multiply across systems. Underwriters receive several versions of the same data. It’s confusing, insecure and inefficient.

And it’s now one of the biggest operational problems the mortgage industry faces.

No more tweaking

Operational pressure is rising across lenders and brokers. Compliance demands are increasing. Clients expect clarity and speed in every financial interaction. The old model is way off meeting expectations.

The industry has tried numerous solutions – portal updates, user interface (UI) tweaks, smarter workflows. But portals and UI tweaks are isolated fixes. What needs to change is the underlying architecture – the ‘plumbing’ as I like to call it –which is just too fragmented.

If we are to make meaningful and impactful changes, then we must all, as an industry, move towards a fully connected mortgage technology ecosystem which eliminates fragmentation from the process.

In the mortgage industry, we are fortunate to have incredible technology experts developing the

most sophisticated digital systems. Creating a fully digital mortgage application process for brokers and lenders isn’t beyond our reach ... if we work together.

What should a digital mortgage journey look like?

o Data is captured once and used everywhere, without brokers acting as human copy-and-paste machines.

o Financial information is digitally verified, not repeatedly uploaded in PDFs where it’s at risk of being lost or stolen.

o Underwriting receives structured, consistent data, enabling faster, more accurate decisions.

o All parties share a real-time view of progress, eliminating case-chasing, repetition and giving transparency to borrowers.

o Application times reduce because the structural friction that comes with re-keying, duplication, and constant back-and-forth between lender and broker, disappears.

The good news is that this is all entirely possible – now. The technology exists. At Mortgage Brain we have been developing these processes for the benefit of the industry. and we’re excited about the impact on the future of mortgage distribution.

What’s happening?

We’re seeing signs already of how connectivity can greatly improve the mortgage application journey. With developments such as:

Intelligent data capture

Instead of brokers manually reshaping data for each lender, we have the ability to now take one standard data set per client and distribute it consistently to multiple lenders, despite each lender having a slightly different need.

The broker journey is universal regardless of the lender chosen for their client.

ZAHID BILGRAMI is CEO of Mortgage Brain

Digitally verified data sources

Digital ID verification, Open Property Data Association (OPDA) services, and other digital services are set to replace traditional manual document uploads. These solutions provide faster, safer and more reliable ways to verify customer information, significantly reducing the backand-forth that often slows down the mortgage process.

API-driven connectivity

Application programming interfaces (APIs) are a major part of the evolution. APIs are quietly and invisibly breaking down the walls between systems. They enable data, permissions and status updates to move instantly. APIs don’t replace existing systems; they connect them, allowing evolution rather than rebuild.

However, not all APIs are the same, and if those integrating systems do so without proper care, this detracts from the seamless user experience. True standardisation

The reality is that if every lender continues to develop its own formats, definitions and processes it becomes

ands full connection

increasingly difficult for them to integrate with multiple broker technology providers.

Likewise, each technology provider must work with numerous lenders which all operate in slightly different, siloed ways.

The real solution is standardisation and collaboration.

As an industry, we need to agree on and adopt common ‘plumbing’ and interoperable frameworks

if we are to genuinely transform the mortgage application process through technology.

We must work together

Fragmentation is a competitive disadvantage. As pressure builds on costs and client experience, organisations that move towards greater interoperability and genuine connectivity will naturally find themselves ahead of the curve. Those

who wait will still benefit in time. For the sake of both the end customer and the long-term health of the industry, it would be encouraging to see everyone leaning into the shift toward a connected mortgage ecosystem sooner rather than later.

The transformation will happen, and if we work collaboratively, we can bring that future closer and make the journey smoother for everyone involved. ●

Time to bring homebuying into the 21st Century

In almost every aspect of our lives, technology has streamlined complexity. We manage our finances, collaborate with colleagues across the globe, and order anything we need with a few clicks.

Yet, when it comes to the most significant financial transaction most of us will ever make – buying a home – we are trapped in a bygone era of paperwork, disjointed processes, and agonising uncertainty.

Weak links

The recent ‘Fixing the Broken Chain’ report by Santander lays bare the staggering cost of doing nothing about our home buying process. It reveals a system in crisis, with 530,000 property transactions falling through each year – haemorrhaging £1.5bn from the economy.

But behind these eye-watering numbers lies a deeper, more human cost. The majority of homebuyers are consistently stressed, with many reporting increased anxiety and strain on their personal relationships. This is

more than an inefficient process; it’s a system that is actively failing people.

The fundamental problem is fragmentation. The journey is a disjointed relay race where the baton is supposed to be passed between estate agents, mortgage brokers and conveyancers, all operating in their own isolated silos. It’s a process designed for a pre-digital age, and consumers are paying the price, both financially and emotionally.

Integrated and transparent

The solution, however, is within our grasp. What if buying a house could be as seamless as a modern e-commerce experience? A single, connected platform where every step – from search and mortgage application to legal work and exchange – is integrated, transparent, and managed in one place.

This is not a distant future fantasy. At OneDome, we have already built this connected platform. We are proving that a better way is not only possible but is already delivering results.

is founder and CEO of OneDome

We are working hand-in-hand with a growing network of mortgage brokers and estate agents to provide a faster, cheaper, and simpler experience through our fixed-price HomeBuyer Service. We have already helped hundreds of homebuyers navigate their journey with far less stress and greater financial certainty, demonstrating the power of a unified, digital-first approach.

The market’s appetite for this change is undeniable. Consumers are no longer prepared to accept a broken homebuying process simply because ‘that’s the way it’s always been’. They are actively seeking out and embracing a modern, efficient, and consumercentric alternative.

We believe in a homebuying journey where buyers have real-time visibility of their entire transaction, where professionals collaborate in one digital environment, and where the delays and misunderstandings that cause chains to collapse no longer exist. By connecting the chain, we can reclaim the £1.5bn lost to failure, and more importantly, restore the excitement and hope that should define the journey to a new home.

The technology to fix this broken system is available, and the demand from consumers is clear. The future of homebuying is connected, transparent, and efficient – the revolution is already underway.

BABEK ISMAYIL

The Inter view.

IJessica Bird speaks with Nadine Edwards, head of intermediary distribution at NatWest, about how the bank’s work with PEXA heralds change for the mortgage market

n July 2025, NatWest formally entered into a partnership with PEXA, and in doing so, became the rst major UK bank to commit to implementing the Australian rm’s digital property transaction platform. e collaboration aims to digitise, streamline and revolutionise, rst remortgages, and later the entire sale and purchase process, replacing traditional, paper-based conveyancing with secure, real-time data exchange between lenders, conveyancers and legal teams.

NatWest plans to begin live remortgage transactions through PEXA in the rst half of 2026, with full rollout to purchase cases expected to follow in quick succession.

e deal marks a signi cant step in modernising the UK property market, aligning it more closely with the fully digital settlement model already used in Australia. e Intermediary caught up with Nadine Edwards, head of intermediary distribution at NatWest, on what this means for the market as a whole.

NatWest

The context for change

Edwards has spent more than 16 years in this market, with experience across brokerage and lenders, joining NatWest four years ago, and taking over her current role at the beginning of 2025. For Edwards, her history as a broker has had a particularly profound e ect, helping her “always remember there’s a customer at the end of all this.”

e market’s evolution – and particularly its relationship with technology – has been increasingly pronounced since the onset of Covid-19, which Edwards says has created a “constant cycle of change.”

She continues: “We’ve had to react to change really quickly, and we’ve become particularly resilient. Covid-19 changed how people work, customer pro les, and of course the macroeconomic and economic changes – from ‘Trussonomics’ and the base rate, to interest rates going up for the rst time in years.”

Culturally, this led to greater collaboration and agility across the mortgage market, Edwards adds: “As an industry as a whole, we’re very collaborative, and we’re also particularly resilient and able to change – probably much quicker than we ever have done historically.”

Of course, across the full spectrum of UK businesses, the pandemic and lockdowns also had a profound e ect on the use, adoption and development of technology.

Nevertheless, while processes were streamlined across every sector, homebuying in the UK remains “one of the most stressful things anybody has been through.”

Edwards explains: “Research shows that 81% of purchase customers face issues with the process, and 43% of those just looking to do a remortgage on a property they own.”

It does not have to be this way, however. Edwards points to the Australian market, where the average mortgage process is digitally enabled, and takes two weeks – compared to an average of ve to nine weeks here. is is, to say the least, a sign of “ine ciency in the UK system.”

Starting with the remortgage process, the partnership with PEXA aims to “tackle the issues head on,” enabling better data sharing and communication, including between previous sources of bottlenecks, such as the

Land Registry. The goal is to “digitise these journeys and ultimately help the customer experience – which is at the heart of what we’re doing.”

NatWest and PEXA are on track to deliver the first of these steps in the initial three months of Q1, with a plan to “ramp up the remortgage plan” towards the middle of the year. The second phase is to extend this to other mortgage journeys, aligning with the wider retail bank’s digital strategy.

Edwards says: “Our ambition by the end of next year is that PEXA will be delivering the sales and purchase journey.”

By 2027, the goal is to provide a “best in market” speed to offer, and then by 2030, to cut this down to 24 hours. This will be enabled by open architecture, application programming interface (API) integrations, artificial intelligence (AI) driven processes and horizontal digital integration across the supply chain. For the customer, this means “a faster completion, which is what everybody wants.”

Edwards adds: “It means improved transparency within the process, as well, which is what causes most of the stress.

“It’s also great security, knowing that the funds have been transferred.”

Supporting all players

At the heart of this progress is a focus on humans – both those that work within the market, and those trying to navigate it. One of the goals is to shift the homebuying process, taking it from a slow and painful slog to something more rational and painless.

Edwards says: “From the customer’s perspective, it’s about that transparency and clarity, which is key at a particularly stressful time. Whether you’re buying a house, looking to remortgage, doing home improvements or have had a change in circumstances – it’s a very trying time. By developing that digital journey, we can create greater speed and efficiency for the customer, but ultimately also for us and our colleagues that work within our operations business.”

One of the most beleaguered sections of the property market, which – rightly or wrongly –takes the brunt of much of people’s frustration with the process, is conveyancing.

The onset of this new, streamlined and digitally enabled approach will also ease conveyancing pains, according to Edwards: “Conveyancers will be able to take advantage of that as well. They’re able to benefit from the transparency, the same as us and the same as the customer.”

At the centre of all this, of course, is not just the customer, but the broker as their link into the property finance market. Edwards is clear that the advent of greater tech optimisation does not mean the removal of the intermediary – far from it, NatWest’s goal is to make life easier for the integral cohort of brokers helping the end customer through the biggest purchase of their lives.

Edwards says: “Digitisation is about efficiency, not just for us, but ultimately for the broker and customer. It’s about how we work together to understand how these enhancements and changes in technology and platforms can be utilised together to help move the housing market forward together.

“Research has shown that customers do want advice. Brokers are the experts in the field and can support the customer to make the right decision for them – especially if we take first-time buyers as an example.”

Edwards wants to make sure to bring brokers along with NatWest on the journey to tech optimisation, ensuring that “we understand the advantages and the benefits for everybody involved, securing the right outcome for the broker and the customer.”

She adds that greater transparency and clarity could ease one of the hardest aspects of the process for brokers, namely managing client expectations and helping them understand timescales that might not fit with their personal goals and views on how long the process should take.

This will, in turn, “support the conveyancer in the process as well,” by creating fewer scenarios where a customer, left in the dark and concerned for their purchase, is pushing to chase the conveyancer for updates. Edwards says: “That’s a time saving and efficiency win for everybody involved in the process.”

Standards, trust, collaboration

NatWest is not simply working towards a better process for itself, and to push for primacy in the market. This is part of a broader goal to create a higher standard of information sharing and collaboration, which will benefit all in the long run.

There have been various initiatives in recent years, spurred on by the pandemic but not entirely borne out of crisis, to improve information efficiency in this market.

The standout among these is the onset of Open Banking, which was “bandied around for a number of years” before it started to take a strong footing, now becoming much more the norm. →

Where this market has traditionally been seen as reluctant to evolve, Edwards points to the work of the Open Property Data Association (OPDA) – of which NatWest is a member – which is pushing to bring in these cross-industry standards.

Edwards says this is a marker of intent for the whole market, including NatWest’s competitors. She welcomes the change, adding: “It’s not just us, and there are thirdparties that are advocating for it as well. We are collaborating for the good of the customer.

“So, standards have been set, and we’re now working on real-time data exchanges, which is something that we haven’t seen historically, but that we’re now seeing now much more freely between everybody in the process.

“That’s not just with us, that’s with the conveyancers and the regulator as well, which is important.

“As a result, we’re seeing a reduction in duplication, which is something that we haven’t seen before. We can speed up the process by doing that.”

Pushing for progress

NatWest is leading the way with its partnership with PEXA, pushing forward into what should be a ‘new normal’. Edwards hopes others see this as a chance to follow suit for the good of the market.

She says: “If more lenders are supportive of this, and use us as an example, it will support industry’s ambitions to move forward. Horizontal digital integration – that’s what we’re advocating for.”

There may even come a time where, for some customers, a lender’s level of digital optimisation becomes as important a choice factor as rate. Brokers, as trusted resources, may advocate with their clients for lenders that will make the process as painless as possible. There is an imperative, then, not to be left in the dust as others speed ahead into the homebuying ecosystem of the future.

There are various concerns that have plagued progress in this market. Some – cyber security, privacy, fraud risk – are well-founded and are an important consideration for any new tech development to address. Others, Edwards says, are just a matter of better education.

For example, the question of AI has sent intermediaries, lenders and everyone in between into a panic about the risks – whether the terror of ‘black box’ thinking making poor decisions, or on the other end of the spectrum, the fear that AI will be so successful it threatens the livelihoods of brokers.

The truth is likely far less dramatic than either option. For NatWest, AI is absolutely a tool to be implemented as part of its streamlining efforts, both now and in the future.

Before any panic ensues, Edwards explains that AI is not as new and scary a concept as some imagine, but has been “around in some form for a long time,” helping digest information and support decisions on the back-end in ways many would not recognise as AI in the headlinegrabbing form it has today.

Edwards says: “It’s an enabler to help us build more transparency, more speed, and more efficiency into the home buying journey.”

Even as AI’s capabilities progress, Edwards is not of the mindset that this spells disaster for human intermediaries and underwriters.

She explains: “We, as humans, want that ability to speak to somebody, especially in something as important as home buying. Having that ability to work with your broker, and to work with lenders like us, is still absolutely key.

“What the AI and APIs are doing in this scenario is just helping build the model and make it more efficient – making the process easier for everybody involved.”

This, in turn, allows more time for those human interactions, and the hand-holding that many borrowers still need from their broker.

Five-year plan

2026 is the year in which the NatWest and PEXA partnership will really start to take hold. Beyond that, NatWest’s plan is to create a data-driven, collaborative ecosystem that simplifies the homebuying and property finance process for all parties, while keeping the customer central.

Edwards says: “I believe that, over the next five years, technology such as PEXA and AI and all the things that we’ve spoken about will fundamentally reshape the mortgage market, and also the homebuying market as well.”

This is not about reducing mortgages to numbers in a book. Far from it, the plan is to use data and information sharing to open up the process and put people at the heart.

Edwards concludes: “We’re on a mission to move from that fragmented, very paper-centric process, with lots of emails and information flying around, to enable a digital and a datadriven ecosystem that exists for everybody.

“From NatWest’s perspective, our vision aligns to this transformation. There are three key themes: speed, simplicity and making it simple, with a customer-centric view.

“Ultimately, all of us that are part of the homebuying process need to collaborate to create a more efficient, transparent system.” ●

In by Christmas? Seasonal pressure, better outcomes

There comes a point in every year when advisers – and indeed everyone involved in the property buying and selling process – will start hearing the same line from clients: “Can we still get in by Christmas?”

It’s understandable. People love a date to aim at, and the idea of a first Christmas in a new home is powerful. But property transactions don’t o en align in such a neat way, and advisers certainly need to be prepared for this.

Indeed, add bank holidays, condensed working weeks and yearend processes, and December is o en the least forgiving time to rely on luck. That’s precisely why the earliest advice you give – including your steer on conveyancing – is crucial.

Of course, this is not just a specific Christmas issue. It could be February half-term, Easter, the start of the Summer, the start of the new school year, etcetera. These naturallyoccurring deadlines are built into the calendar, and many people can have their hearts set on them at any given time.

What to do?

Let’s focus on Christmas, but this will be relevant for any time of the year. Start by planning for two potential and successful outcomes, not one slightly bri le promise. Plan A is a midDecember completion if everything lines up. Plan B is a designed earlyJanuary completion that’s calmer, o en cheaper, and frankly more achievable for many chains.

The trick is to define both plans on day one, agree what must happen this week to keep Plan A alive and set a wri en ‘go/no-go’ date. If that slips, pivot to Plan B before

clients incur rush costs or dri into disappointment. This single move reframes the question from “Can we still get in by Christmas?” to “Actually, which route gives us the best odds of a smooth outcome?”

Next comes conveyancing firm selection. Spike periods amplify the downside of cheap-sounding options, so use a distributor like conveybuddy that can provide the information on where there is capacity and which of our panel firms can take your client smoothly through the process.

Then, be realistic with the client. By the time you read this in November, we’ll be past the point of no return for the vast majority of clients in terms of ge ing in by Christmas, but this is just as relevant at any time.

Be explicit about chain reality if they’re in a chain. Your client’s timeline is o en – unfortunately –going to be set by the slowest party, not by the date they’ve circled on the fridge.

Get holiday availability from everyone involved and resist the temptation to aim for the last Friday before Christmas unless the chain is exchange-ready well in advance.

Mid-month completions are more resilient because they give room to manoeuvre.

Transparency in this regard is also non-negotiable. When people understand the full picture, they make be er decisions and they’re far less likely to chase a date at the expense of a good outcome.

None of this is about pessimism. It’s about swapping magical thinking for professional preparation.

The blunt truth is that too many UK transactions abort, and too many take far longer than clients expect. Chasing an unachievable date certainly doesn’t help in this regard.

HARPAL SINGH is CEO at conveybuddy

Leading with clarity, honesty and transparency keeps people o the wrong legal path from the start”

A recent report from TwentyEA/ Ci outlined the reality in stark terms. Between July and September this year, 82,000 potential sales fell through, which brought the number this year alone to 312,700. How many of those were pushing for a pre-school-year moving in date?

The data also shows that the average time to exchange is now 123 days. That’s four months. To have got in before the end of September, this journey would have need to start back in April or May. To get in before Christmas this year, we are looking at August or September.

While I appreciate that advisers can’t fix every external issue, they can materially improve the odds by outlining credible plans, choosing legal routes that minimise surprises, and dragging every controllable task to the front of the process.

Leading with clarity, honesty and transparency keeps people off the wrong legal path from the start. Plus, you get more control when you’re the one delivering the conveyancing advice. This always means fewer disappointments and smoother completions, whether the keys change hands in mid-December or the first week of January.

That’s not just good advice at Christmas; it’s good advice all year. ●

What operations teams can learn from conveyancers

Mortgage lenders and conveyancers may be working on the same transaction, but too o en it feels like they’re running on parallel tracks. Lenders measure pipelines, risk and turnaround times; conveyancers track milestones, client updates and compliance.

Both are aiming for the same finish line: a safe, timely completion. Yet the way they get there can o en differ. The opportunity lies in learning from each other’s strengths, and using technology to bring those approaches together.

Conveyancers excel at treating each case as a journey with clear markers. This end-to-end view ensures accountability, consistency and progress through defined stages. Conveyancers can benefit from applying the same model, integrating PVQ handling, certificate of title checks and charge registration into a single digital workflow that keeps everyone on track.

Lenders, on the other hand, bring a level of operational discipline that could strengthen legal workflows. Dashboards, KPIs and MI are second nature for operations teams. Applying these tools to conveyancing can help law firms benchmark their own performance, manage capacity and show service quality more effectively to customers and lenders. Both sides already demonstrate excellence in their own domains; the challenge is to carry those strengths across into a more complete, streamlined and transparent homebuying journey.

Shared visibility

Real-time visibility is the foundation that turns these complementary

strengths into a seamless process. With a single source of truth, lenders and conveyancers no longer need to rely on ad hoc updates or duplicated requests. Instead, both see the same information and signposts, outstanding tasks, timelines and case status all at the same time.

This isn’t about one side checking up on the other, it’s about creating consistency and certainty.

Queries are resolved faster, bo lenecks surface sooner, and brokers and clients gain confidence that the transaction is moving.

A er all, the best practices of both professions only reach their full potential when everyone works from the same information.

Collaborative approach

The industry has already shown it can adapt. Lenders have embraced digital origination, especially in regard to front-end processing and conveyancers have built basic workflows into their everyday practice.

The next step is to combine these strengths in the post-offer stage, historically the most broken and fragmented part of the journey.

ANDREW VAUGHAN is head of customer management at e4 Strategic UK

That’s where platforms like VERSA are making a real difference. Built in the UK with expert input from lenders and conveyancers, it unites panel management, digital workflows management, milestone tracking, intelligent PVQ handling and charge registration in one place.

For lenders, it means visibility like they’ve never seen before, measurable cost savings, improved compliance and reduced work to oversee their panel firms. For conveyancers, it means easier communication, guided workflows, faster responses and easier workloads. For clients, it means a legal journey and move that feels joined up rather than fragmented.

Mortgage operations and conveyancers already have all the ingredients of a seamless process. By bringing the best of both approaches onto shared, digital-first workflows, they can finally work in sync.

Faster, safer completions aren’t about replacing existing ways of working, they’re about combining the strengths that already exist and adding to them. ●

Building with con dence

If programmes like ‘Grand Designs’ have taught us anything, it’s that building your own home can be as perilous as it is rewarding. We’ve all seen those moments when projects stall, budgets vanish, and homes sit open to the elements over winter. But while it makes great television, it doesn’t have to be reality.

Behind every successful self-build is a strong working partnership between borrower, broker, lender and builder. When those relationships work in harmony, the experience will be proactive, predictable and rooted in cashflow confidence rather than crisis.

Small but steady

Self and custom build remains a niche but resilient part of the housing market. Latest Government figures show that between October 2023 and October 2024, the number of individuals registered for a self-build plot rose by 2%, with 64,851 people now on local registers.

Demand is steady, but supply is tightening. The number of planning permissions for serviced plots fell by 18% in the same period, a reminder that while enthusiasm is growing, the availability of suitable land is not keeping pace. That makes access to the right finance and guidance more important than ever.

Finance that supports

It’s important to work with a self-build lender that has designed its processes to reduce stress, not add to it. For example, at Darlington we work in partnership with BuildLoan, the specialist advice arm of Buildstore, and we have developed our cost-based, advance stage payment model to ensure funds are released before each build stage.

This way, we don’t have to wait for valuations. It’s a small but vital distinction that helps borrowers stay ahead of cashflow shocks, particularly

during the expensive early phases like demolition and groundworks.

In general, self-build cases need to be closely monitored through monthly build reviews and check-ins, allowing any emerging issues, from cost inflation to delays, to be addressed before they escalate.

CHRIS BLEWITT is head of intermediary distribution at Darlington Building Society

If extra funding is needed, a further advance may need to be arranged midbuild, with interest-only payments during construction to keep costs manageable.

Continuity of oversight is also key. Which is why, at Darlington, we ensure that every self-build case is handled by senior underwriters who stay with the application from start to finish. This helps to ensure speed, consistency, and a genuine understanding of each project.

Collaboration that evolves

Understanding the position of everyone in the finance team is also important. For example, we hold monthly operational huddles to keep communication open, while brokers have direct access to underwriters for complex queries.

For us, this close alignment of all finance parties has led to meaningful improvements. Our online portal also now supports self-build cases with foreign currency income and affordability assessments reflect the

borrower’s post-completion position. We listen to broker feedback and have specific service level agreements (SLAs) for self-build cases, which recognise the time-sensitive nature of each stage.

For clients, this translates into reassurance and real results. One Darlington client and self-builder said: “As someone working overseas, Darlington was one of the few lenders willing to help. They understood my global income.”

Service that anticipates

In 2024, Darlington completed our biggest year with specialist intermediary BuildLoan for more than a decade, and we expect to match that success in 2025, despite the context of a shrinking market.

True partnership means anticipating issues, not just reacting to them. With the right lender and broker by their side, self-builders can navigate uncertainty with confidence, building lasting trust and a home at the same time. ●

Enthusiasm for self-build is growing, but the availability of suitable land is not keeping up

Round-table.

From backlog to

Marvin Onumonu unpacks the key points from The Intermediary’s recent round-table, in partnership with Movera, which set out practical steps to improve conveyancing

The conveyancing sector faces persistent challenges but also powerful opportunities for transformation. To make the most of this opportunity, The Intermediary and Movera brought together expert voices from across the sector to make concrete plans for how the industry can move forward.

Attr Acting tA lent

Often relegated to a back-office function, conveyancing struggles to be recognised as a modern, dynamic profession. In addition, Lee Riche, commercial director at Landmark Optimus, reflects that longevity used to be the ultimate career goal, but there has been a recent generational shift. The industry cannot expect loyalty for loyalty’s sake, but must offer a compelling, developmental experience – even if a new recruit spends only a few years in the sector.

Riche says: “The focus should be on how to get the best out of that person in those five years and make it an exciting journey for them. Hopefully, by doing that, they’ll want to stay within the market, because you’ve given them a fulfilling experience.”

Jeanette Coughlan, home conveyancing director at Connells Group, says it is rare to see positive news about working in conveyancing, adding: “We each have a responsibility to promote just how collaborative, interesting, challenging yet fulfilling this can be.”

Julian Lavender, corporate accounts director at iamsold & iamproperty, notes that while sales operations grow rapidly and invest in graduate schemes and development programmes, conveyancing is slower to adapt. Fee earner recruitment at times becomes a real challenge, but Lavender has seen improvements since extending development initiatives to the conveyancing

IN ASSOCIATION WITH

team in his own business. Retention rates have improved and people see a clear career pathway.

“Our conveyancers are being recognised as partners in the business, rather than just another support function,” he says.

Coughlan highlights another recruitment challenge, saying: “We often see current conveyancers moving between firms. Where do we find fresh talent? We need to be open-minded about who we bring in – it’s not just about looking to similar professional services, but from other industries as well. It is the core skills that are the most important thing: to be able to deal with complexity but also deliver a fantastic client and introducer service.”

Lavender points to his firm’s collaboration with Newcastle University, while Jim Quinton, senior manager at Nationwide Building Society, adds that apprenticeships are a valuable route.

“We’re focusing on reaching students as they finish sixth form or college,” he says.

“Apprenticeships are valuable, even though candidates are young and it’s a bit of a gamble.

It’s been a struggle to recruit for roles similar to legal executives or back-office functions, so we’re now focusing on 12-month contracts and similar opportunities. Yes, you want experienced people, but apprenticeships provide another path.”

In order to ensure the success of these programmes, Quinton says the sector must address confusion around its identity: “If I were a 20-year-old looking at my next step, I’d be confused. Am I joining the property sector or the legal sector? The industry is confused about its own identity, and that comes through.”

breakthrough

Mentorship and culture are crucial for retaining early-career conveyancers. Fiaz Khalid, CEO of Leading Property Lawyers (LPL), says experienced professionals have a responsibility to support colleagues, especially those new to the profession, rather than criticising or dismissing them.

He adds: “Many conveyancers have tended to keep to themselves, focusing on the technical and academic side of the work rather than promoting the profession or supporting one another publicly. Changing that mindset, by sharing more positive messages and celebrating successes, would help to attract and inspire the next generation.”

Mark Gray, chief transformation and technology officer at HM Land Registry, warns that as more basic work gets digitised, the traditional career path may become more difficult.

He says: “The learning curve is steeper, because the foundational work that used to be done in the first years will soon disappear. We need to rethink how we train people for the future, or risk missing the opportunity.”

Mark Slade, partner at Fidler & Pepper, brings a practical perspective to the conversation, explaining how his firm has forged new routes for talent. Fidler & Pepper has implemented a ‘Grow Your Own’ strategy, with staff starting as assistants or juniors and going on to qualify as licensed conveyancers or solicitors.

Slade notes that this is not just about pulling people in, but ensuring a welcoming, constructive environment for them to join. To this end, he touches on the challenge of balancing workload and wellbeing, stating: “When I was on the training side, the solution was to limit the amount of work people take on to a safe level. You provide mental health support, you reward them if they hit their financial targets, but as a business owner you still need to make a profit. So, the only thing that can really change is the price you charge.”

Nick Hale, group CEO at Movera, agrees on the importance of workplace conditions: “You can’t expect people to have pride in their role or do exceptional work unless they’re surrounded by

Round-table.

PARTICIPANTS, LEFT TO RIGHT

Nigel Hoath GOTO Group

Mark Gray Land Registry

Lee Riche Optimus

Julian Lavender iamsold & iamproperty

Jim Quinton Nationwide

Matt Slade Fidler & Pepper

Mark Tosetti CAL Fiaz Khalid LPL

Michael Holden Landmark

Jean Coughlan Connells

Nick Hale Movera

Jessica Bird The Intermediary

Nick Dyoss Searchflow

Driving tr A nsform Ation

The urgency to streamline transactions, cut unnecessary delays, and improve the process has never been greater.

Nigel Hoath, founder and director of GOTO Group, highlights proactive solutions – free legal packs at the point of instruction and commitment fees on offer acceptance – that already make a difference, shaving weeks off timelines and dramatically reducing fall-through rates.

technology, processes, governance, people and other forms of support that help them flourish.”

According to Mike Holden, divisional director at Landmark Information Group, marketing is also crucial. He says: “It’s about creating positive incentives – when something works and is successful, that needs to be marketed so people are aware of it. The firms still using outdated processes will gradually see less activity as the market shifts.”

Mark Tosetti, CEO of Conveyancing Alliance (CAL), adds: “We want a more rounded individual with a broader set of skills to move into conveyancing and build a career there, rather than the way it was 20 years ago. There’s a wider skill set required now from conveyancers, not just technical conveyancing.

“How do we attract people from other sectors, those with a real focus on service, into conveyancing?”

Next steps: Robust graduate schemes, apprenticeships, digital-first training and clear opportunities for rapid progression.

Nationwide, meanwhile, is an early adopter for innovations such as electronic mortgage deeds.

Quinton notes: “The lending sector has shifted forward in its appetite for driving sector change – electronic signatures, digital deeds, digital mortgage processes. The technology and standards are here; now it’s up to conveyancers to adopt them, and for us as lenders to support that.”

He cautions that the sector is divided between big firms with the resources to build systems and that cannot invest at the same level, but adds: “Platforms like Decision First, Lender Exchange, and Panel Link can enable everyone, not just the big players. The bigger firms can innovate, but platforms help build functionality for the rest.”

Quinton says: “Everyone is looking for a golden bullet, which doesn’t exist. The industry is obsessed with finding the perfect solution, so people retreat to what they know. We need to adopt improvements incrementally, not wait for something perfect.”

Tosetti reiterates that people should remain at the centre of progress: “Digitisation is critical, but so is bringing people on the journey. That’s going

to be especially important as the market continues to consolidate and, let’s be honest, potentially gets even busier. Conveyancing has been seen as a commoditised service and often viewed as quite an old-fashioned industry. This simply isn’t correct and will not attract the right kind of people into becoming future conveyancers.”

There are practical moves that can be made. Slade’s firm uses an app and digital signatures, and he outlines the potential for even greater gains if the sector can digitise all key documents.

He says: “If we could do the same for the TR1 form, that would be massive. The mortgage deed is the last big one. If we could get that signed electronically, too, we wouldn’t have to post documents out, risk them getting lost, wait for them to come back. It could save a week or two.”

Digitising the TR1 is easier said than done, of course, due to the fragmented homebuying ecosystem, with inconsistent data, legacy systems, limited digital ID adoption, and unresolved legal and liability issues. There is, therefore, work to be done before this can be achieved.

Gray acknowledges the complexity of digital transformation, saying: “We’re looking to raise the bar on what’s coming into us, to validate information more fully upfront, which will start to lift standards.”

He points out that while the Government has a role, significant change will need to be industryled, and that “no single organisation can make change happen in isolation – enough of the sector needs to move together.”

Next steps: With digitisation of TR1 as a key goal, businesses must engage with tech now, rather than waiting for others.

rAising stAnDArDs

Meaningful progress calls for a new era of collaboration, and for the establishment of higher, consistent standards across the sector. Property transactions too often are hampered by fragmented approaches and incompatible systems.

Coughlan says: “There is not one ‘big ticket’ change that will rectify the challenges we face. But we have some real momentum with players like LMS, Landmark and the Land Registry, and some lenders that are running real tests in their sandboxes. Conveyancers just want clear standards and accessibility. Everyone is making incremental improvements vertically, but we need the game-changers that will move things forward, to do that we need to work together.”

Holden emphasises the importance of distinguishing trusted information, arguing that process reform is not just about ticking boxes for compliance. Only actionable, verified data delivers true assurance and value.

Coughlan points to the Property Data Trust Framework as a positive step, but one that remains a challenge to implement, adding: “Not every firm can integrate APIs and ingest data. Rather uniquely in this industry, conveyancing, estate agencies, and mortgage broking are largely fragmented, so bringing it all together is a very real challenge, that we all need to solve.”

Quinton highlights the issues caused by a lack of shared standards: “If agents, brokers, and conveyancers all do things differently and don’t share information, it creates friction. We need to find ways to trust each other more.”

Hale adds: “When we talk about collaboration, what we mean is two businesses working together to agree on a structured and well-governed way

→

Round-table.

of working. If we look at the work we’ve done, the blended average number of days to complete since the inception of the relationship is sub-50 days. It can be done. But we spent months going through detailed design work and building out the tech.”

Coughlan also observes: “Not every answer involves technology, there are things we can do ourselves – where the estate agent, broker, and conveyancer genuinely work well together.

“Culturally, even just sharing documents, having the right conversations, setting expectations, and making sure there’s a friendly conveyancer on the other side – collaboration is key. Ordering searches earlier, sharing ID information, these are all selfhelp measures we can take, and both us and many others are doing variations of this already.”

A core point of frustration between those on either side of the conveyancing conversation is the lack of clarity around what information is needed and why.

The panel agrees that a simple first step, and one which does not necessitate integrated systems or complex planning, is the commitment to follow up after the fact. When transactions have raised seemingly unnecessary back and forth, a short wash-up meeting to understand why could lead to basic improvements that benefit everyone longterm, without the need for seismic reform.

Next steps: Increase the points of communication and information sharing throughout the process, taking the time now to make long-term improvements.

t r A nspA rency

Property transactions remain highly complex, with critical information often hidden away within separate organisations and systems.

Nick Dyoss, group business development and relationships director at Landmark Information Group, points to pilot projects digitising local land charges, highways, and building regulations, noting that: “If we achieve that, we’ll move toward ‘oneday search packs.’ Even if conveyancers don’t want them, having that data earlier in the transaction gives more time to address problems or creates greater certainty – and that’s what people want.”

The panel is enthusiastic about the potential for real-time data sharing and digital dashboards to give all parties visibility over the status of a transaction, which should help the sector rebuild trust and confidence.

Coughlan identifies practical barriers, though, particularly when it comes to sharing information and the impact of material information initiatives.

She says: “If we could get rid of paper forms, carry out upfront searches, and share ID checks, up the use of [Qualified Electronic Signatures (QES)], get simpler and consolidated lender requirements, then things would start to move.”

Indeed, QES could provide the foundation needed to bring UK conveyancing in line with modern digital standards, but the industry still needs unified data standards, trusted ID frameworks and widespread adoption.

Coughlan adds that the push for greater transparency is also causing its own problems, saying: “The issue with material information

being collected by estate agents is that right now it hasn’t made a difference to transaction times. We’re collecting information, but sharing is limited, and sometimes competitors don’t want it. We need clarity.”

Holden cautions that, while well-intentioned, the new transparency initiatives could lead to a downward spiral, adding: “With 39% of conveyancers’ time spent chasing or being chased for information, smarter and more efficient flows are essential to prevent transparency from becoming another administrative burden.”

Quinton sees a lack of transparency and communication throughout the chain as one of the main obstacles, saying: “Often, you don’t know what’s happening two or three steps down the line. Each part of the chain moves at its own pace, and we need a way for everyone to see what’s happening. Transparency is missing, even though there are data privacy and GDPR challenges. In an ideal world, everyone involved – conveyancers, brokers, lenders – would have that visibility.”

The panel discusses the use of platforms such as Coadjute or MoveMe by ViewMyChain to share property data, task status and messaging between estate agents, conveyancers, buyers and sellers –removing duplication and creating clarity across the property chain.

Dyoss notes: “Looking at panel management, some of the analysis we do shows, on average, there’s a two-week delay between instruction and ordering searches. That’s two weeks lost at the very start. In some firms, everything is approved and done within 24 hours, which shows how simple improvements can make a huge difference.”

He continues: “We also have to overcome legacy systems. Upgrading them isn’t easy – just look at what it’s like to update systems in banks. Investment is the biggest barrier to adoption at the moment. A change that looks simple on paper can take six months in reality.”

Next steps: Reduce the gap between instruction and searches, push for greater uptake of QES, and engage with platforms that create chain transparency.

ADApting for tHe fUtUre

There is broad agreement that the sector should not wait for top-down regulation; instead, it must drive transformation – piloting new approaches, sharing best practice, and working closely with regulators to ensure that innovation and compliance progress hand in hand. The Land Registry, for example, is working with the industry to build on local land charges, raise the bar on information validation, and lift standards. Gray says: “We want to be a galvanising force,

even in areas we don’t directly control. No single organisation can make change happen in isolation – enough of the sector needs to move together. It won’t work if only lenders, conveyancers, or the Government act alone. Everyone must take a step forward, but not wait for everyone else.”

Connells Group recently brought its panel partners together to create a protocol for when working on both sides of a transaction. Coughlan says: “The message: don’t raise unnecessary enquiries. We’re seeing a reduction, but it’s not enough. We don’t control the whole channel, we’re only one part of the transaction.”

Slade notes: “With the current undersupply in the market, you do have to be careful. Realistically, it’s only the Government or the lenders who have the power to mandate change. They could say to a bunch of conveyancers, ‘Unless you’ve got this IT spec or system, you’re not staying on the panel.’ That’s the kind of leverage required.”

At the heart of these discussions is a shared recognition that the sector’s image problem does not get solved by technical fixes alone.

The panel calls for a new approach to consumer education and communication – one that demystifies the conveyancing process.

By embracing transparency, empowering consumers with clear information, and providing proactive updates, conveyancers could rebuild trust and change perceptions for the better.

Dyoss says: “Conveyancing underpins the entire economy. Property transactions are massive, and what we do moves the country forward. If we could sell that bigger vision, it would be powerful – the work is exciting and underpins so much national activity.”

Hale has witnessed a dramatic shift in tone already, saying: “Over the past three and a half years the volume of positive external conversations about the purpose behind home moving in the UK and its role in the economy is about 20 times the amount of noise there was in 2022 when I joined. We’re talking about it all the time – about changing the industry for the better, about people’s careers. We’re on the growth drive. The loudness and frequency of the voices is a real positive. Keep doing it. Do more of it. A rising tide lifts all boats.”

Next steps: Actively promote positive stories as efficiency and tech improve.

tHe

WAy forWArD

Far from being tempted to throw their hands up at the difficulty of creating change in a fragmented and complex part of the homebuying process, the panel proves that there are achievable steps that can be taken today to create success tomorrow. ●

In Profile.

Jessica

O’Connor speaks with Sara Palmer, sales and distribution director at Gen H, about her recent appointment and the lender’s future growth plans

For Sara Palmer, the appeal of her new role at Gen H is rooted in a sense that the mortgage industry hinges on innovation. After more than three decades in financial services, having worked across “the first mortgage sourcing software company,” MortgageLink, to her 14-year stint in mainstream lending post-Credit Crunch, she has seen first-hand just how quickly the market adapts. She suggests it has rarely felt as open to structural transformation as right now.

She says: “After being in that high street space for 14 years, it’s now really exciting to be back in a space where it’s all about innovation and doing things differently.”

“The market is evolving,” she explains. “Innovation is really important to stay relevant and to help customers where circumstances have become more complex over the years. There aren’t many other lenders out there who can say they are truly innovative.”

Raising awareness

Gen H has a clearly defined direction: to create mortgage solutions that reflect the realities facing would-be homeowners today. The next step, Palmer explains, is ensuring that message is consistently understood across the intermediary landscape. The lender has “loads of passion and loads of talented people” driving innovation, but the priority now is to “build on our presence.”

This is not simply about becoming more recognisable. Palmer frames it as an essential step in ensuring that Gen H’s solutions land where they are most needed.

The income booster proposition is a central example. Rather than being positioned as a headline-grabbing flagship, it reflects Gen H’s attempt to address a defining structural challenge in today’s market: affordability. However, Palmer notes: “When I’m out and about, loads of brokers say: ‘Yeah, I’ve used Gen H, absolutely brilliant.’ But then equally, you meet some who say: ‘oh, yeah, I’ve heard of Gen H, I’m not sure really what you do.’”

Her priority centres around strengthening partnerships. In a market where brokers handle

dozens of lender processes, Palmer says that repetition and clarity are essential.

She explains: “You need to explain if you’re doing something a bit different. Once a broker fully understands the proposition, they will get what the hype’s all about, and hopefully, they’ll keep coming back.”

This places a renewed emphasis on field-based and relationship-led distribution. While digital platforms and streamlined workflows matter, Palmer notes that the broker experience still hinges on people, particularly those who can explain and build familiarity.

She adds: “To brokers, a relationship with your lender’s BDM is still so important. You really need that education piece – you need somebody to hold your hand.”

Widespread homeownership

While Gen H’s “unlocking homeownership” ethos is widely recognised, Palmer is keen to emphasise that the lender’s distribution strategy is not limited to the traditional first-time buyer narrative. “Affordability is king,” she says, and while younger buyers certainly form a significant part of that story, the aim is to support anyone facing barriers to ownership.

Gen H is increasingly seeing scenarios that fall outside typical client profiles, and the proposition is intentionally built to accommodate them.

Palmer notes: “We did a deal recently where a 67-year-old who had his children join the mortgage as income boosters. How lovely is that? We’re helping a real broad spectrum of people.”

This approach also underpins the lender’s push into interest-only and part-and-part interest-only products, as the industry returns to long-term affordability conversations with fresh context.

Palmer says: “Interest-only had a bit of a taboo around it, but we’re going back to 2010 – the world has moved on. Affordability is our biggest issue now, so we now need to find solutions to address that.”

In her view, the market can no longer rely on older frameworks and assumptions about how borrowers should structure their finances.

Gen H’s strategy is therefore need-first, rather

than demographic-first. Palmer says: “It’s about supporting those that just need that affordability stretch in order to get the home they need or want, rather than compromising.”

Supporting that approach requires technology that can adapt at pace. This, Palmer says, is where Gen H’s fintech foundations become particularly significant, as “a lender that builds its own endto-end journey and system.”

Features such as the credit commitments tool and custom packaging dashboard are designed to surface information early and keep communication clear. “By giving the broker the information during the process, it’s a really slick experience,” Palmer notes, highlighting that the intent is to remove friction, not just chase speed.

As workloads have increased and case profiles have become more varied, brokers increasingly look for lenders that can offer both flexibility and operational clarity. Palmer says: “We’re just trying to make that journey for the broker as seamless as we can.” That mindset is reflected in recent enhancements: streamlined onboarding and a new re-offer tool that allows brokers to easily request to move clients to a lower rate.

Backing broker resilience

In a market marred by affordability pressures and unpredictable economic conditions, Palmer praises the resilience of intermediaries. She explains: “We see that manifest as a growing interest in education. Brokers are recognising the importance of innovation and they’re seeking out those opportunities because they want to learn more about what products are available to them.”

Where once much of the market could be served through standardised high street criteria, advisers are now increasingly engaged in navigating nuanced affordability models and intergenerational support. As product ranges diversify to address those needs, the broker’s role becomes even more central. “The more people need tailored mortgage products, the more the brokers’ role as the expert becomes invaluable,” Palmer adds.

For Palmer, the concept of partnership forms a practical framework for how the sector should operate. She says: “We all have to work together to build policy, products, criteria, advice, protocols, and systems that accomplish what we’re all here to do.”

This reflects a move away from transactional, product-led engagement toward more sustained collaboration. With affordability challenges widening and customer scenarios becoming more varied, meaningful progress requires shared problem-solving, rather than isolated product development.

Rather than simply promoting solutions to the market, Palmer emphasises the need for lenders to actively absorb broker insight and experience: “We want to hear those criteria questions. We want that product feedback, because that really helps us to shape moving forward.”

She adds: “We’ll try and facilitate those important conversations, bring more brokers into the fold so that we can all improve in a way that genuinely works for each of us together.”

Moving forward

Palmer’s focus is on sustainable growth, scaling Gen H’s presence and capability while preserving the qualities that differentiate its approach today.

Expansion must not come at the expense of service or connection, she explains: “We want to grow, but we don’t ever want to lose that personal human touch.”

In practice, that means continuing to invest in distribution relationships, maintaining responsiveness as volumes increase, and ensuring that brokers continue to feel supported rather than pushed toward self-navigation.

The objective is not solely to increase lending volumes, but to extend the impact of the lender’s mission. Palmer defines success as enabling more customers who might otherwise struggle to find a route into homeownership. She concludes: “it’s about widening our reach, forming real partnerships with our distribution and continuing to provide innovative solutions for customers.” ●

SARA

PALMER

The H1 benchmark and outlook for H2

If there’s one thing our H1 2025 Mortgage Lender Benchmark made clear, it’s that broker expectations are rising. In the first half of the year, brokers told us what’s working, what’s not, and which lenders are ge ing it right. I’ve pulled out some of the key signals from our H1 2025 Mortgage Lender Benchmark, so we can take a look at what they might tell us about what’s coming in H2.

H1 signals not to ignore

Satisfaction is up and at a four-year high

Overall broker satisfaction rose again to 4.22 out of 5, the highest since 2020. That might sound small, but in a fast-moving market, even small gains show real progress in brokers’ everyday experience.

A clearer view of the broker journey

We introduced the Broker Experience Index, which combines scores for speed, service, digital tools and support. It debuted at 70.6. Building societies top the table at 71.5, with mainstream lenders just behind at 71.4. The takeaway? The best

performers come from blending people, processes and tech, not relying too heavily on any one of them.

Most brokers are recommending lenders

The average Net Promoter Score (NPS) for all lenders rose to +40.9, up 5.0 points from H2 2024. This means more brokers are willing to recommend their go-to lenders – a strong sign of consistent and reliable performance.

Standout performers show what ‘good’ looks like

Brokers named Halifax as the best mainstream lender and Principality Building Society as the best building society – the la er retaining its toprated H2 2024 status.

Canada Life led later life lending, Pepper Money topped specialist – also retaining its H2 2024 status.

Elsewhere, BM Solutions led buy-tolet (BTL), Allica Bank headed bridging or commercial, and LendInvest was recognised as the best ‘digital first’ lender.

While these lenders have different specialisms, they all share the same winning approach – delivering consistency and seamless experiences.

JAKE SANDFORD is head of data and analytics at Smart Money People

Scale you can trust

This edition captured feedback from 1,111 brokers across 600 firms, covering 134 lenders, and representing 98% of UK gross mortgage lending. That breadth gives us confidence we’re seeing the full story and gives lenders confidence to act.

Looking to H2

We’ve just finished gathering broker feedback for the H2 2025 Lender Benchmark – due in early December 2025. Here are five questions we’re looking forward to seeing feedback on:

1. Speed versus certainty: With service improving, do brokers now value predictability over case speed? What lenders are ge ing the balance right?

2. Digital done right: Which tools really cut down on re-keying and admin – like pre-submission checks or live case updates – and which ones just add extra steps?

3. Handling complex cases: In later life, buy-to-let and complex credit, who’s combining clear underwriting with human support when it ma ers?

4.People power: How are lenders making business development manager access and case ownership easier, especially on tricky cases?

5. Retention and product transfers: Are existing borrower journeys keeping up with new business processes, or is there a service gap?

We’re looking forward to revealing what brokers really think about lenders for H2 2025. ●

Housing policy stability matters for homebuyers

As the Autumn Budget approaches, uncertainty over Government housing and tax policy has once again become one of the biggest factors influencing homebuyers. Unsurprisingly, many of the conversations we’re having with brokers right now are focusing on what the Budget might bring –whether that’s potential changes to Stamp Duty, landlord taxation or new forms of support for first-time buyers.

The outcome of those potential changes will be critical in shaping confidence and momentum as we move into 2026.

Policy uncertainty

Our latest broker survey shows that Government housing and tax policy, interest rates, inflation and the cost of living are the most cited factors shaping client decision-making in the year ahead.

Notably, one in five (20%) brokers say potential housing and tax reforms are the single most important influence on their clients’ plans –ranking above mortgage regulation, affordability rules (19%) and even the cost of living (14%), which has dominated conversations in recent years.

This heightened sensitivity comes amid speculation about major changes to the property tax system. Among the proposals reportedly under review are spreading Stamp Duty payments over several years, shi ing liability for part of the charge to sellers above £500,000, or replacing Stamp Duty entirely with an annual property levy.

While such ideas are intended to ease pressure on buyers, uncertainty over their introduction risks creating hesitation.

In practice, this means that many people are pausing their homebuying or selling ambitions. Across the industry, there are signs that uncertainty over potential tax and housing policy changes is leading buyers and sellers to take a ‘wait-andsee’ approach until they know what lies ahead.

Facing new challenges

This is particularly important at a time when many borrowers are already facing extra challenges. More than one in five brokers (22%) say clients with non-standard careers have had to jump through additional hoops to prove affordability, while 20% say first-time buyers now rely on outside financial support. For many would-be homeowners, that means their plans are already finely balanced.

As a result, many brokers see scope for the industry to do more. They’re calling for greater product innovation to be er serve a wider range of borrowers, as well as stronger support for those struggling with repayments. There’s also recognition of the need for more flexibility for vulnerable customers and those with complex credit histories. Together, these calls show that the market recognises the importance of adapting to support borrowers through periods of change.

However, many brokers see scope for the industry to do more. They’re calling for greater product innovation to be er serve a wider range of borrowers, as well as stronger support for those struggling with repayments. There’s also recognition of the need for more flexibility for vulnerable customers and those with complex credit histories. Together, these views show that the market itself recognises the importance of adapting to support borrowers through periods of change.

AARON SHINWELL is chief lending o cer at Nottingham Building Society

Collaboration and stability

I hope that any sweeping changes to policy will be considered carefully. Any move towards an annual property tax, for instance, would need to be managed to avoid discouraging downsizing or creating unpredictable ongoing costs for retirees and families. There is also a risk of regional disparity and fairness – with areas such as London and the South East, where a higher proportion of homes exceed £500,000, potentially being hit harder.

Brokers are at the heart of the UK mortgage market, advising almost every homebuyer. Their insights give a real-time view of what’s happening on the ground. They tell us that when government policy changes come without consultation or sufficient notice, uncertainty grows.

In the lead-up to the Budget, we always see an increase in speculation about what may or may not be announced but all too o en this just creates further hesitation in the market. What’s needed now is reassurance from the Chancellor, not more uncertainty, so that buyers, brokers and lenders can plan with confidence.

Clarity and con dence

We support reforms that make the housing system fairer, more flexible and more accessible – particularly for first-time buyers and those underserved by traditional lending models. The upcoming Budget is a vital opportunity for the Government to put an end to speculation and provide the clarity to plan ahead with confidence. ●

TO BOLDLY GO WHERE A REGULATOR DOESN’T NEED TO GO?

Go to the Financial Conduct Authority (FCA) website and read the speech that chief executive Nikhil Rathi gave at the Legal & General Mortgage Club conference, and there is a note which reads: “This is a drafted speech and may differ from the delivered version.”

That feels important, because I was at the event, and I have to say, the positive tone reflected in the published speech was not one I particularly felt being in the room.

Small step, giant leap

As a starter, when discussing the FCA’s Mortgage Market Rule review, Rathi said: “Our response must be bold.”

Now, boldness is fine in principle. But as those of us who deal with the real-world impact of mortgage regulation know, there’s a fine line between being bold and being reckless. At certain points, that what this speech felt like. Reckless.

Because while Rathi talked about the need for a bold response to build a mortgage market of the future, what he also said on stage – beyond the confines of the published speech

For advisers, the problem isn’t the sentiment, it’s the inconsistency”

– was way more telling, particularly in terms of who might be driving the changes we have seen this year, and those we might get in the future.

For a start, Rathi let slip that before issuing the recent Discussion Paper, the FCA spoke to lenders, not advisers. Those same lenders that have shut thousands of branches and got rid of the majority of their regulated, adviceproviding staff.

So, forgive me for wondering: why didn’t he also urge those lenders to go and train up regulated staff and offer regulated advice?

Instead, we heard enthusiasm for the idea that lenders could somehow offer non-advised, tech-driven ‘support’ to consumers while still operating in the regulated space.

And why was that seen as some sort of positive, instead of being a huge red flag?

The FCA now seems quite comfortable with a future where banks use artificial intellifgence (AI) to deal directly with borrowers; Rathi even admitted that AI advice isn’t perfect yet, but will be one day. That’s not reassuring.

Effectively saying ‘some people will fall victim to this’ and get poor outcomes until it is ‘perfect’ as if it’s an acceptable price to pay for progress, is frankly alarming.

It’s a ‘you can’t make an omelette without breaking a few eggs’ approach. Except in this case, the eggs are consumers.

To me, it feels as if the regulator has been starstruck by the banks and larger lenders. Convinced by their narrative that advice can be automated, oversight can be lighttouch, and it will all somehow work out fine in the end.

That’s not bold, it’s blind. The FCA seems to be driving towards a multicar pile-up with its eyes open.

There are also numerous contradictions here. In the written speech, it says “advice and support will

be vital to help consumers navigate options” but at the same time, it agreed to a change that stripped away access to advice altogether, via the removal of the advice interaction trigger, for existing borrowers communicating direct with lenders.

How do those two things marry up in a Consumer Duty world?

The world of tomorrow

I’ll give Rathi his dues, the speech was full of fine words about collaboration, innovation and consumer wellbeing. But for advisers, the problem isn’t the sentiment, it’s the inconsistency, the fact this theory hasn’t married up with the practice, and that the future journey looks to be going off further in this direction.

If you believe, as I do, that advice is a force for good, and that by taking advice consumers have a far better chance of achieving a positive outcome, then you don’t need to “think differently” about this. The FCA might believe the market needs to, but we don’t.

This is already a market in which advice dominates for a reason. More than 90% of new mortgages come through advisers. It’s a market which,

in Rathi’s own words, is “serving millions of customers well.” So why is the regulator seemingly determined to fix what isn’t broken?

This Mortgage Rule Review, Rathi said, isn’t about the market today, but the market of tomorrow. That’s fine to a point. But you can’t write a rulebook for a market that doesn’t yet exist. And you can’t simply have blind faith that technology and AI are going to comfortably deliver the same positive outcomes that advice does, just because the big lenders tell you it will.

Reading Rathi’s speech, you might think the FCA is fully behind advisers – that it sees us as central to fair value, strong outcomes, and sustainable homeownership.

Yet too often, the FCA cherry-picks its position depending on who it’s talking to. One week advice is the heartbeat of the market, and the next it’s too dominant and needs to be reined in. That’s not a sustainable position, and it doesn’t square with Consumer Duty.

Consumers overwhelmingly want advice. They value it. They seek it out. That’s why the advised channel is dominant. Yet we appear to have a regulator that feels it’s important

SEBASTIAN MURPHY is group director at JLM Mortgage Services

to support other channels over ours, to directly sign-post these channels, and to have blind faith that AI and tech will make everything right, when it’s really a play to help bring lender’s cost base down at the expense of quality outcomes.

I wish every adviser could have been in the room to hear this, because it was worrying in the extreme. What the regulator thinks is ‘being bold’ felt more like a reckless experimentation with a market that isn’t broken. And that should concern us all. ●

Busting holiday let myths to unlock real value

Holiday lets have had a knack for making headlines over the past couple of years. Sometimes, they’re blamed for hollowing out communities; alternatively, they are celebrated as the golden ticket to landlord riches. The truth, as is o en the case, lies somewhere in between. This is a market which is far more interesting, and multifaceted, than the stereotypes might suggest.

According to analysis of this sector by The Professional Association of Self-Caterers (PASC UK), holiday lets still make up just 0.6% of the UK’s total housing stock, yet they generate a remarkable £6.6bn in economic value and support 139,000 jobs. That represents a huge economic punch for such a small slice of the market, and it underlines why brokers should be paying a ention to a sector that is o en misunderstood and packed with opportunity.

One of the most persistent myths tackled in the PASC UK report is that holiday lets are displacing large numbers of homes from local residents. It highlights that fewer than one in 200 homes fall into this category. Even when looking at the 100 most popular rural and coastal constituencies for holiday lets in England in 2023, Frontier Economics estimates that only 2.4% of all dwellings in these popular areas were dedicated holiday lets.

Furthermore, in the PASC survey, business owners confirmed that 43% of their properties across England and Wales can only be used as holiday lets due to planning restrictions. This further reduces the number and proportion of holiday lets that could potentially be used as a primary home.

Another misconception is that holiday lets only a ract affluent investors. In practice, landlords come from a wide spectrum, from families converting inherited properties to professional landlords diversifying their portfolios.

With domestic travel increasing in popularity, holiday lets also underpin a more sustainable shi towards lower-carbon, UK-based tourism, reducing reliance on international flights while supporting rural and coastal communities where alternative economic drivers may be scarce.

In terms of demand, this has largely remained resilient despite wider uncertainty across the buy-to-let (BTL) market. Staycations continue to be a lifestyle choice for many households, not just a pandemic trend. For landlords, this translates into healthy occupancy levels and competitive yields. For brokers, it presents an opportunity to guide clients towards a sector that balances strong returns with long-term resilience.

Specialist expertise matters

As with any specialist asset class, successful outcomes depend on lender understanding. Holiday lets differ from standard buy-to-let in several respects: income streams fluctuate seasonally, valuations require experienced surveyors, and location is o en key to long-term viability.

Recognising the specific characteristics of holiday let lending, specialist lenders are increasingly offering a dedicated range of products and criteria designed to reflect real market conditions. For example, we allow rental income from holiday lets to be included in affordability assessments, rather than relying solely on standard assured shorthold tenancy assumptions.

GRANT HENDRY is director of sales at Foundation Home Loans

This ensures a more accurate reflection of achievable income, supporting landlords to access funding that matches the property’s true potential.

By enabling holiday let income to form part of the affordability calculation, brokers can help clients maximise borrowing power while ensuring stress tests remain robust.

Positioning for growth

Looking ahead, despite only representing 0.6% of UK homes, the contribution of holiday lets is disproportionately powerful, and they are primed to play a bigger role in landlord portfolios. Strong domestic tourism, robust demand, higher than average yields and the appeal of diversified income streams all point to their continued relevance.

Beyond the financial case, the sector may also deliver wider benefit than it is credited for, from supporting local economies and jobs to encouraging lower-carbon travel – giving landlords a chance to align investments with positive social impact.

For brokers, this creates a dual opportunity: to help clients secure profitable returns while championing a sector that is adding value well beyond property yields.

By working with lenders with a real understanding of this sector and presenting the evidence clearly, brokers can counter misconceptions and position landlords to grow their portfolios with confidence and clarity in an ever-maturing corner of the buyto-let market. ●

The end of the feudal at?

In March, the Government said it would ban the sale of new leasehold homes by the end of this Parliament, in what ministers described as the end for a centuries-old ‘feudal system’.

Under the current leasehold system, third-party landlords, known as freeholders, own the building and a leaseholder buys the right to occupy a flat within it for a fixed time period.

The Government wants to move to a system of homeownership that is more in line with the rest of the world, known as commonhold. Under commonhold, people can own their flat outright while the shared parts of the building – such as entryways, roofs and amenities like gyms or gardens – are owned by a commonhold association, in effect a special type of corporation.

The system is modelled on similar structures in continental Europe and North America, such as condominiums. Most of the rules for how commonhold associations are run will be standardised by the Government, which it sees as an improvement over leases where terms can vary widely. Owners will each have a vote and can set ‘local rules’ for their building, such as limits on shortterm holiday lets.

A white-paper published in March stated the sale of new leasehold flats would be banned and commonhold “reinvigorated” with a new legal framework.

Commendable idea

This would be a popular move with landlords and buy-to-let (BTL) investors. The centuries-old leasehold system is rife with problems: uncooperative freeholders have held up critical fire safety measures in some buildings, and there are many cases of freeholders se ing up excessive ‘ground rent’ payments, overcharging for running buildings and even paying

themselves kickbacks on contracts. The process for leaseholders to challenge their freeholder, or gain control of the building, is complex, expensive and slow.

Indeed, when Landbay asked landlords what they disliked the most about leasehold tenure, only one in nine said they had no complaints.

On the other hand, more than half of the landlords that we polled told us they disliked service charges the most, while one in seven cited neglect and poor infrastructure.

A similar number picked out the difficulty of remortgaging. One in 14 said the cost of ground rent.

This highlights the deep concerns among buy-to-let borrowers over the leasehold system. It also suggests that the Government is right to be pushing for a transition to commonhold: it’s a step in the right direction towards modernising property ownership in the UK. The Government’s ambition to abolish leasehold is commendable.

This is not something the country is rushing into without some

ROB STANTON is sales and distribution director at Landbay

forethought. Those of us with long memories will remember that the Labour Party started pushing commonhold ownership in 1995.

This takes us to the heart of the ma er. We do have commonhold in the UK. It’s just not a big deal: fewer than 200 properties currently use commonhold – hence the talk about “reinvigorating” it.

Growing cynicism

While the intent to reform a system is welcome, when we asked the opinions of landlords owning approximately 3,000 properties throughout England and Wales, only a third said that they thought the move was achievable.

Landlords in Wales were the most pessimistic, with three-quarters saying they thought the reforms wouldn’t happen – although landlords in the north of England were less cynical, with only 55% of those surveyed saying they thought the goal was undeliverable.

Landlords operating predominantly as individuals were less likely to say that the Government’s goal was unachievable – still more than half of them, though – compared to those making use of limited company structures at almost two-thirds.

This highlights the need for a clear, practical roadmap for progress. Without robust policy execution, the transition risks stalling, leaving landlords and leaseholders in limbo. And with the political demise of Angela Rayner, the abolition of leasehold tenure looks, perhaps, even less certain. ●

The direction of travel is set

If you want to understand where the buy-to-let (BTL) market is heading, look no further than limited company lending. For all the noise about landlords leaving the sector, the real movement is not out of BTL, but deeper into it – through more professional structures, larger portfolios and smarter financial management.

The latest data from both Moneyfacts and Fleet’s own Q3 2025 Rental Barometer underlines this point: the limited company market isn’t just expanding, it’s becoming the new normal.

Moneyfacts data shows the choice of fixed-rate BTL mortgages available to limited companies has more than doubled in just two years. There are now 1,730 fixed options available, compared to only 841 in October 2023.

That’s a remarkable rate of growth and a clear signal of how lenders, such as Fleet, are responding to sustained demand from landlords operating through corporate vehicles.

Rates have been improving over the same period. The average 2-year fixed rate for a limited company BTL is now 5.04%, down from 6.53% two years ago and lower than 5.54% a year ago. The 5-year average now stands at 5.50%, down from 6.69% in October 2023. The combination of increased choice and lower pricing shows this is not a niche market anymore – it’s core lending for a professionalised landlord base.

Our Q3 Rental Barometer paints the same picture. Limited company borrowing accounted for 81% of all applications we received in the quarter, compared to 19% for individual landlords.

That doesn’t happen by chance. It reflects a structural shi that began several years ago when tax changes gradually eroded mortgage interest relief for individual landlords. Since then, the professional landlord sector

has steadily moved towards the limited company model for both financial and operational reasons.

This trend looks unlikely to reverse. The upcoming Budget has already sparked speculation about possible new taxes on rental income or changes to how landlords are treated in the personal tax system. Even if such measures were introduced, they would likely reinforce the move towards limited company ownership rather than hinder it.

If anything, a tax policy that increases the cost of holding property in a personal name would simply accelerate the existing direction of travel. Were it not for the Stamp Duty costs involved in transferring existing properties from individual to company ownership, many more landlords would already have made the switch.

Not just a hobby

We were founded on the belief that this was where the market was heading – towards a more professional landlord base operating through limited companies – and that belief has been borne out time and again.

When we launched, limited company lending was still considered a specialist segment of BTL. Today, it’s undoubtedly the norm, driving innovation and competition among lenders, and giving landlords more flexibility and control over how they run their portfolios. What began as a tax-efficient way of managing properties has evolved into the preferred structure for serious investors looking to build and manage property businesses.

For advisers, this shi is of course significant. The profile of the landlord client you see is changing. For example, more than 61% of applications to Fleet now come from landlords with four or more buy-to-let mortgages, and almost a quarter are from those with 15 or more.

WES REGIS is national account manager at Fleet Mortgages

These are not hobbyists or accidental landlords; they are running businesses that require tailored and specialist mortgage advice, robust funding options, and long-term relationships with lenders who understand the complexities of limited company ownership.

Advisers are therefore working with lenders such as Fleet that specialise in this part of the market – that not only offer competitive products, but also understand the structuring, underwriting and regulatory nuances.

For all the media cha er about landlords exiting the sector, our data tells a very different story. Yields remain strong – 7.5% on average across England and Wales – rents are continuing to rise, and landlords are consolidating and growing.

Most landlords are not leaving the market, they are evolving within it – refinancing, incorporating, or expanding their holdings to maintain profitability and efficiency. The appetite to stay invested in property remains high – it’s just being expressed in more structured, professional ways.

Limited company lending is not just a reaction to policy changes; it’s a reflection of the long-term maturity of the sector. Landlords are running portfolios like the businesses they are, and lenders that support that will continue to be central to their success. Advisers who recognise this evolution and work with specialist lenders will be well placed to help their clients navigate a more sophisticated phase of the market.

The direction of travel has been set, and it’s further into limited company lending, professionalisation and longterm growth. ●

When we speak to new brokers, one of the most common things we hear is ‘Wow! I didn’t know you did that!’

With our manual underwriting approach, award-winning team of local Business Development Managers, generous lending criteria and innovative products – we strive to find a way to lend to your clients.

How can we help?

— We take into account earned income up to the age of 70, or even 75 if the client is in a non-manual role

— We’ll consider pension pots, as well as fixed pensions, investment and rental income. Other income can be considered on a case-by-case basis

— We lend in retirement with higher maximum ages than most lenders

— We have a common sense approach to lending and use human beings, not robots, to underwrite each case. This means we can tailor our solutions to each of your client’s needs.

Arrears management has never been more crucial

As the Renters’ Rights Bill approaches Royal Assent, le ing agents across England are preparing for the biggest change to le ings in 30 years. The Government’s impact assessment estimates agents could lose nearly £400m in revenue over 10 years, largely due to tenants staying in properties longer, while the wider changes to the sector see landlords collectively facing losses of over £1.02bn during the same period. However, there is another threat to rental income: the growing risk of rent arrears.

Affordability pressures are mounting. According to the Office for National Statistics (ONS), average monthly rents in England reached £1,403 in August, a 5.8% increase yearon-year. Meanwhile, average wage growth was lower at 4.7%.

The growing gap between tenants’ rent and income makes them more likely to fall behind, and under the new legislation, landlords and agents can’t act as quickly.

The Bill will abolish Section 21 ‘no fault’ evictions. Currently, landlords who need to recover a property for unpaid rent can still serve a Section 21 eviction notice, but once the Renters’ Rights Bill is enacted, an arrears eviction notice can only be served a er three full months of rent arrears – and unless the tenant leaves, landlords need to go through a full court hearing.

With average court delays already at 27.9 weeks from notice to repossession, landlords could be waiting six months or more to regain possession, and may then need further court action to recover missing rent.

What’s also clear is that deposits won’t cover the shortfall. Generation

Rent’s Freedom of Information (FOI) data shows the average deposit in England and Wales is just £1,118, less than one month’s rent in most regions.

Before the keys

Against this backdrop, it’s clear arrears management needs to be embedded into your rental strategy, starting before the tenant moves in. We know from Rightmove that, on average, 11 tenants enquire per property, but not all tenants are equal.

Our tenant referencing strategic partners HomeLet and Let Alliance, who together operate one of the UK’s biggest tenant referencing services for agents and landlords, identify more than 150 potential fraud cases daily. Without robust checks, these tenants could end up in your properties, and potentially in arrears. Finding and placing the right tenant is your first step.

Sell the bene ts

Once a tenancy begins, early arrears intervention becomes critical. If you’re an agent or landlord and you only check rent payments monthly, you could miss weeks when you could help those tenants address their arrears.

Bank-integrated rent payment platforms like PayProp help agents keep their finger on the pulse. Linked to your bank account, such tools can automatically flag who has paid and who hasn’t, allowing you to monitor arrears 24/7, and when alerted, to send reminders by email or text, in just a few clicks.

The numbers really speak for themselves. We looked at the top 10% of PayProp-powered agencies with the lowest arrears. In September, they had fewer than 1.4 tenants in arrears per agency, owing just £513 on average

DR NEIL COBBOLD is commercial director at Reapit

– less than 39% of average monthly rent. This limits the impact on income and gives great data points agents can use to sell their service to prospective landlords. While correlation alone doesn’t prove causation, it is striking that the same 10% of agencies also grew their le ings commission income by over 13% in the past year.

But even the best processes can’t prevent every case of arrears. That’s why some landlords and agents are turning to rent guarantee insurance. The most comprehensive policies don’t just protect landlords from lost rent; they also safeguard le ing agencies from the financial impact of prolonged arrears.

While no one wants to rely on an insurance claim, it does provide the assurance if things go wrong. Property professionals could soon face over six months of unpaid rent if a tenant defaults and eviction proceedings are delayed. That missing income might be a lifeline – a mortgage payment or a pension.

Knowing you won’t be le out of pocket can make all the difference, not just financially, but in building trust with prospective landlords, maintaining trust with your current clients, and stability within an agency.

The Renters’ Rights Bill is a wake-up call. The changes mean landlords and agents need to refocus and put arrears management at the heart of how they operate.

With the right tools, property professionals can take control by ve ing tenants thoroughly, acting early on arrears, and pu ing insurance in place. They will be the ones best placed to grow under the Renters’ Rights Bill. ●

Landlords need more than one investment strategy

Almost half of landlords plan to buy more property, according to research by Handelsbanken. Of that, 73% are looking to expand into different areas of the property market.

They are, in many aspects, responding to something learned the hard way: pu ing all your eggs in one basket can leave you vulnerable.

Focusing on the same types of properties in similar areas has become increasingly risky as landlords face pressure from multiple directions, including rising mortgage costs and changing regulations.

One answer is diversification, and there are several ways landlords can achieve it.

Spreading risk

Diversification is not about buying more properties, so much as it’s helping to reduce exposure to any single market shi . The average UK landlord portfolio now contains 8.6 properties, according to the English Private Landlord Survey, but what ma ers more than the number is the mix. When one property type underperforms or faces regulatory headwinds, others can offset it.

Average gross rental yields reached 7.4% in Q1 2025, according to Fleet Mortgages’ Rental Barometer. Dig deeper, however, and you will see dramatic regional variation. The North East averages 9.3%, whereas London sits at 5.8%. Property type makes just as much difference. Houses in multiple occupation (HMOs) in certain towns are generating yields as high as 15.5%, compared to the 10.4% national average. That’s more than double the returns for those who know where to look.

Cities like Manchester saw rental growth of 11.3% year-on-year to December 2024, with yields averaging 6.5%1 but reaching 12% in highperforming areas. Meanwhile, other regions have stagnated. Landlords with properties across multiple locations have more natural protection against local downturns.

Beyond standard BTL

The traditional residential rental remains popular, but some landlords are increasingly looking at alternative property types. HMOs draw interest because they can provide higher yields, and crucially, income from multiple tenants.

Multi-unit freehold blocks (MUFBs) present another option, as you control the entire building and can reconfigure or upgrade units to meet changing demand. Some landlords are converting lower-yielding properties into higher-performing assets this way.

Holiday lets have become mainstream since the pandemic. With the right location and management, they can command premium rates during peak seasons. The trade-off is higher vacancy rates and more intensive management, but for landlords with the capacity to handle it, the returns can justify the effort.

Student accommodation

MFS found that nearly 330,000 UK 18-year-olds applied to university in the most recent academic year, a record high. UCAS projects applications could rise to 31% by 2030 compared to 2022.

The student-to-bed ratio across 20 major university cities stands at 2.7, meaning nearly three students compete for every available purposebuilt bed. Some 1.3 million full-time

MARTIN SIMS is distribution director at Molo

students are chasing just 500,000 purpose-built student accommodation beds. In other words: the supply is struggling to keep pace with demand.

The financial performance backs this up. It is not uncommon for student properties to generate returns 20% to 30% higher than standard buy-to-let properties in cities like Liverpool and Glasgow. Occupancy rates also exceeded 95% in major student cities like Manchester and No ingham last year, significantly outperforming traditional rentals that might face several weeks of vacancy between tenants.

Many students pay rent upfront on a termly or annual basis, o en backed by parental guarantors. That can reduce the risk of arrears, as cashflow tends to be more predictable. The academic calendar creates predictable tenancy cycles, with most lets secured nine to twelve months in advance.

Continue to adapt

As landlords look to diversify, they need lenders that understand specialist property types.

Molo works with first-time landlords and portfolio investors alike, offering mortgages on HMOs, MUFBs up to 12 units and new-build properties. With no minimum income requirement for first-time landlords, the criteria accommodate the realities of modern portfolio investment.

For brokers advising clients during portfolio diversification, working with specialist lenders that understand these property types makes the difference between a theoretical strategy and the completion of deals. ●

Building a stronger buy-to-let market

While we’re seeing some more negative headlines ahead of the Budget – and clearly, it’s going to be painful for all of us – the operating rhythm of the mortgage market is ticking over nicely.

In our Q3 trading results, completions were up 19% year-onyear. With net loan book growth on the rise as well, there’s a clear mix of lending coming through quite broadly across buy-to-let (BTL), residential, bridging and commercial.

Of course, there will be some people pu ing off their transactions. There’s caution, and that’s always going to underpin market activity. However, what we’re not seeing – unlike during more difficult times –is a complete stop to mortgage activity altogether. We’re still seeing a good level of underlying activity, but with a measure of caution.

That said, there’s still a desire to move, improve, and invest in property. We’re certainly seeing a ‘steady-as-you-go’ message looking forward, as well.

Reliable lending

At OSB, we’re fully commi ed to the buy-to-let (BTL) market, and we still see opportunity and good demand from our investors and brokers. With the recent launch of Rely, our new specialist buy-to-let lender, we have reaffirmed this commitment.

It wasn’t just about launching a new buy-to-let lender – it was about consolidating our house of brands and differentiating what each is known for.

Rely will be the BTL lender, while Precise remains focused on residential, specialist residential mortgages and bridging. With Interbay, there’s great demand in commercial and semi-commercial.

This launch is an opportunity for us to build a system with the help of brokers, so we could make it do the things they want. It’s a system that will continually allow us to launch new drops to enhance that offering – within one brand and one powerhouse.

Through this, we can support landlords with one or two properties, right the way up to those with large portfolios, which we’re already renowned for doing. It’s the best of everything under one new, fresh lending brand.

Finding balance

We built the system with brokers in mind and listened to their feedback about the amount of documentation they had to provide for buy-to-let mortgages historically.

The new platform means you don’t need to do a business plan or a cashflow forecast – that’s all done as part of the journey. In addition, with more of the market focused on limited companies, we’ve also removed the need for separate legal representation.

This is about balancing the modern world and using technology to

ADRIAN MOLONEY is group intermediary director at OSB Group

enhance the experience, while keeping that expert, people-first approach.

Our broker partners worked with us to help refine the process and shape the journey. We always listen to their feedback, and we’ll continue to do what we do best: work in partnership with intermediaries.

Before, we always thought we were slick with product changes – we could get some changes through in a few days. With this platform, we can make changes where we see opportunities the same day.

That’s part of our ambition to leapfrog what the competition are able to do, and I think that’s something pre y unusual within the specialist lending market.

It’s something we’ve got to work out how we best use, but for the benefit of intermediaries, that power is definitely there. ●

JMT Finance and JMW Solicitors Q&A

The Intermediary catches up with Chris Jones, chief operating o cer at JMT Finance, and Robin Sharp, partner at JMW Solicitors, about the bene ts of partnerships, and how brokers can help commercial cases reach completion

JMT has completed 100 deals with JMW. How have customers and brokers bene ted from this partnership?

Robin Sharp (RS): Reaching 100 completed deals together has been a great milestone, and it re ects a genuine partnership built on trust and shared experience. Both JMT and JMW have continuously re ned processes – we have learned from each and every deal, and we are always looking for ways to improve.

at willingness to adapt has helped create a smoother, faster, and more consistent experience for our customers, something we’re proud of but never complacent about.

ere’s always room to evolve, and neither business is the sort to rest on our laurels.

Chris Jones (CJ): Strong relationships between lenders and lawyers create familiarity and e ciency throughout the process. Everyone understands how the other party works, which helps keep communication clear, direct, and personable.

ere’s a clear upside for brokers, because that e ciency results in smoother transactions, quicker responses, and greater con dence.

ey know that their clients are being looked a er by a well-coordinated team who are used to working together.

How important is it for the legal team to have experience with commercial and specialist property deals?

RS: Experience in commercial and specialist property transactions is absolutely vital. e nuances of commercial lending are very di erent

from residential work, and if the legal team isn’t familiar with those nuances, it can slow down progress or create unnecessary complications.

A legal team that regularly handles commercial matters will anticipate potential issues early, keep documentation tight, and help ensure the transaction moves forward smoothly and e ciently. ere is no substitute for experience.

What

is

your take on the commercial and specialist markets at the moment?

CJ: ere have been challenges in the commercial market of late. Borrower expectations have evolved, and there have also been higher interest rates to navigate. However, it’s clear that there remains strong demand for well-structured funding solutions, especially in the short-term and specialist space. Borrowers are increasingly looking for exible lenders who can move quickly and think commercially.

While there are challenges, these also create opportunities for agile lenders such as ourselves to step in and provide tailored solutions where traditional routes may not t.

e key for brokers is to work with lenders that take the time to better understand brokers and their clients, to build those relationships. We recently promoted Imogen Stocks to business development manager (BDM) at JMT Finance for precisely those reasons, to help us establish even stronger relationships with brokers in this sector.

What advice would you give brokers just getting into this area of the market?

CJ: For any broker interested in working with commercial and specialist lending cases, the key is to fully understand the client’s needs and

present the proposal in a clear, complete way. e more context and detail provided upfront, the smoother the process will be.

Brokers can add real value by taking the time to understand each lender’s appetite and criteria. at makes it easier to match the right deal to the right lender, saving time for everyone and increasing the likelihood of a successful outcome.

It’s a market that really bene ts from quality advice, so it should be on the radar for any ambitious broker. Even if they opt not to handle these cases themselves, it’s important to build partnerships with other advisers who are specialists, so they can refer clients on.

What advice would you give brokers to help their customers complete transactions within the desired timescales?

RS: In an ideal world, borrower lawyers would be more proactive at the outset with getting deals running. We send instructions out in the rst few days following instruction and then deals frequently run slowly and we can spend some weeks chasing to get the process moving.

Obtaining costs undertakings from the

borrower’s solicitors can delay the initial process too, as can the slow provision of basic statutory compliance information.

Paperwork covering the likes of asbestos surveys and the testing of electrical and gas apparatus are fundamental, so it’s crucial they are supplied as quickly as possible.

Brokers have a key role to play here, helping direct their clients towards lawyers who know what they are doing, and encouraging them to get all the necessary paperwork and documentation together from the outset.

We had a recent transaction which was completed from instruction to drawdown within 10 days – made possible through a well organised borrower holding all the paperwork, understanding the process following clear broker explanation at the outset, and also

Brokers

have a key role to play here, helping direct their clients towards lawyers who know what they are doing, and encouraging them to get all the necessary paperwork and documentation together from the outset”

through good communication and collaboration amongst the lawyers involved a er that. So, it is possible to transact quickly, but it takes all parties to contribute.

What types of cases are the trickiest, and how can brokers help give the deals the best chance?

e most challenging cases tend not to be about legal complexity but about the process itself, such as dealing with multiple third-parties. It’s not uncommon for there to be delays when we need to release existing mortgages from private lenders that are not part of the UK Finance Lenders Handbook, for example.

ese cases require careful management, and brokers can play a signi cant role by setting realistic expectations with the clients, gathering all of the necessary information early, and maintaining open communication between all parties. at collaboration at the outset o en makes the biggest di erence.

ROBIN SHARP

CHRIS JONES

Income, exibility and resilience

There’s a subtle yet increasing confidence within the semicommercial property market, evident in the rising volume of enquiries we’re receiving supported by the quality of assets being presented, and the engaging discussions brokers are having with investors. However, as confidence grows, so does a notable change in investor behaviour.

There’s a clear move away from traditional commercial assets toward semi-commercial and mixed-use properties. This trend signals a dynamic transformation and exciting opportunities on the horizon.

Semi-commercial and mixed-use assets are increasingly viewed as the sweet spot of opportunity in a market that still holds risk and uncertainty. Buyers are targeting buildings with a strong residential component, o en alongside retail, office or storage space. We’re seeing a rise in conversions, student lets, and residential-led hybrid schemes – assets that offer income diversity, long-term demand, and potential for value upli .

Meanwhile, the more traditional segments of commercial property remain challenging. Office space is still working through the long-term implications of hybrid working. Retail is also under pressure, with high street premises only viable in targeted formats, typically convenience retail, food-led, or experiential uses. Larger units or non-essential retail o en struggle to justify investment, especially where footfall is unpredictable. But for many mid-sized landlords or developers, the focus is shi ing towards assets that are more flexible, more local, and more connected to residential demand –such as semi-commercial assets.

Semi-commercial assets offer more than just dual income streams, they can also unlock more strategic financing pathways. At GB Bank, if

the residential portion of a property’s rental income exceeds 55% and/or residential value, we classify it as a residential buy-to-let (BTL) loan rather than semi-commercial. These borrowers can access our BTL rates, typically more competitive than commercial pricing. This distinction can significantly improve deal economics, especially in a market where affordability and yield remain critical considerations.

Regional opportunities

One of the most notable developments we’ve seen is the increased interest in regional opportunities. Bristol, Manchester, Sheffield and No ingham are seeing a rise in semi-commercial demand, particularly around university clusters and town centre regeneration zones. These markets o en combine steady residential demand with the scope for creative mixed-use or semi-commercial development. They also tend to come with lower capital outlay and be er yield potential than equivalent assets in the capital.

The rise in demand for mixed-use or semi-commercial property isn’t just about asset class, it’s also about strategy. Landlords are thinking more holistically. Many are refinancing existing portfolios to unlock capital for expansion or repositioning tired assets into new use classes.

They’re looking for lenders that can be flexible and commercial in their approach. Deals o en involve layered ownership structures, limited companies, or Special Purpose Vehicles (SPVs) and they don’t always fit the neat parameters of traditional lending models.

At GB Bank, we understand the intricacies of different structures that investors may use. Our semicommercial proposition is designed to reflect real-world investing. We support limited company structures and apply a flexible underwriting

MIKE SAYS is CEO at GB Bank

approach to properties with mixed income streams. Whether it’s a conversion project, a refinance, or a purchase, we’re open to discussing tailored options with brokers who understand their clients’ longerterm plans.

The broader economic outlook is also becoming more supportive. A er a period of valuation resets and cautious lender sentiment, we’re now seeing a more stable environment. Capital values have adjusted, yields have moved, and transaction volumes are beginning to recover.

Lenders are also growing in confidence. Appetite for incomegenerating assets is returning, albeit selectively. Properties that can demonstrate a reliable rental profile, clear exit strategy and sound location fundamentals are a racting funding more readily than a year ago.

But there’s no room for complacency. Lending in the semicommercial space still requires a sharp eye for risk and a willingness to go beyond a tick-box approach. Valuations can be more complex, and tenant mix ma ers. It’s not just about yield, it’s about sustainability of income, quality of occupier, and asset management potential. A partnership mindset between broker and lender is important. Every deal has nuances, and navigating those requires open communication and aligned expectations.

Ultimately, semi-commercial or mixed-use property is no longer fringe. It’s moving to centre stage as investors seek smarter, more resilient ways to deploy capital. Brokers who can guide clients through the opportunities, work with lenders and can structure the right solutions will add real value in this environment. ●

Keeping the wheels turning in a cautious market

If you’ve been speaking with clients lately, you won’t have failed to notice a change in the conversation. It’s no longer just about when rates will fall or which lenders are still quoting, it’s about opportunity, where it exists, and how to make it happen when the traditional channels are still moving in a cautious manner. From my perspective, that’s where bridging finance continues to underpin its worth, particularly across the commercial market.

I’m not going to pretend that commercial property activity has roared back this year. It hasn’t. The official numbers show transaction volumes down around 27% year-onyear in Q2, which tells its own story.

But when you look more closely, what you see isn’t a lack of appetite, it’s a change of approach. Investors are being more selective.

Deals are smaller, timelines tighter, and flexibility has become the defining factor in whether a project gets off the ground or not.

What we’re seeing

Much of our pipeline through the first half of 2025 was in the short-term commercial and semicommercial space – transactions that need to move quickly or risk falling through altogether.

We’re talking about borrowers who understand the value of timing, developers repositioning older stock, landlords refinancing loans that no longer fit today’s rate environment, and buyers taking on assets that need a creative structure to make the numbers work.

Those are the conversations I’ve been having with brokers every day, and it’s clear bridging remains their go-to solution.

Bridging consolidates

According to the latest data from the Bridging & Development Lenders Association (BDLA), total bridging completions reached £2.3bn in the second quarter of 2025, down 8.9% from the record £2.8bn in Q1, but still 32.9% higher than the same period last year. Applications eased slightly to £10.2bn, a fall of just 1.5% on the previous quarter, while lenders’ combined loanbooks climbed to a record £13.1bn.

The figures suggest that, after the surge in early-year activity, the market has settled into a more stable rhythm.

BDLA chief executive Vic Jannels described the quarter as “a modest step back as the market consolidates,” noting that loan performance remains strong, with defaults down 1.8% and average loan-to-values (LTVs) easing to 56.7%.

In my view, this reflects exactly what we’re seeing on the ground: a market that has caught its breath after an exceptional start to the year, but continues to show remarkable depth and resilience.

Refinancing leads the way

Refinancing now accounts for the majority of completions, as borrowers use short-term facilities to manage transitions between fixedrate mortgages or to restructure investment portfolios.

It’s clear that bridging is no longer being used simply to rescue deals. It’s being used strategically, as a flexible capital management tool.

Competition among lenders has remained intense. Average monthly rates have edged down slightly in recent months, a small but telling sign of confidence.

Borrowers recognise the value of that flexibility, and by mid-2025 the total loan book for the sector had reached its highest level on record. These are not the characteristics of a market under strain, but the hallmarks of one that has matured.

Commercial drives growth

The residential market has provided some useful context, too. Sales rose around 17 % in the first half of 2025 compared with a year earlier, and listings reached their highest level in seven years.

That activity has helped investors find stock and supported lightrefurbishment and conversion projects. Even so, it’s commercial

and mixed-use transactions that have driven much of our growth.

For brokers, this remains the area of greatest opportunity, where short-term finance can make a real difference.

Confidence returning

The Bank of England’s August decision to reduce the base rate to 4% was the first real sign that the monetary tide is turning, and it gave the market a noticeable lift. The September meeting kept rates on hold at that level, with two members of the Monetary Policy Committee voting for a further cut to 3.75%. The Bank also confirmed it would slow the pace of quantitative tightening, a clear signal of intent to support market stability.

From the conversations I’ve been having, brokers have already picked up on that change in tone. There are more enquiries and the beginnings of a busier pipeline from the autumn. Still, challenges remain. Developers are continuing to manage high build costs, and lenders are maintaining disciplined underwriting.

Even so, this is precisely the kind of environment where bridging comes into its own. When the direction of rates is gently downward, but the timing uncertain, brokers and borrowers need funding that can move in step with opportunity when it arises. Bridging provides that link – a flexible and dependable option that allows deals to progress while the market waits for the next move.

I’ve always found it interesting how bridging seems to thrive in these

transitional periods. When markets are uncertain, borrowers want partners who can act with certainty – that’s the very essence of what we do. We’re not just funding property, but giving people the belief to move forward.

So, while the market may be steady rather than spectacular, I see that as no bad thing. A steadier rhythm gives serious investors room to plan and execute, and that’s where bridging comes into its own. It’s the practical solution that keeps transactions alive, provides liquidity when others hesitate, and underpins much of the progress we’re seeing beneath the surface.

As we head towards the end of the year, I suspect many of us will look back on 2025 as a period of consolidation and strengthening. For those of us working in short-term finance, that’s a story worth telling. ●

CONSTANTINOS SAVVIDES is head of underwriting at London Credit

Meet The BDM

Gatehouse Bank

The Intermediary speaks with Emma Kelman, business development manager (BDM) in home nance at Gatehouse Bank

How and why did you become a BDM?

When I was working as a nancial adviser, we used to have BDMs come in and present to us all the time. I o en thought how much I’d love to be in their role. One day, a sales manager visited the o ce and shared that they were expanding their team but were having trouble nding a BDM for the South East region. I jumped at the opportunity and called her as soon as she le our o ce. I had no experience in the role at the time, but I managed to persuade them that I would be perfect for the role. at was in 1999 – the rest is history.

What brought you to Gatehouse Bank?

I’ve always enjoyed pushing myself and learning new things. While I wasn’t really aware of how Shariah nance worked at the time, it excited me to try something di erent. I also loved the idea of being able to help customers based overseas as it’s something I had o en been asked about in my previous role but had never been able to experience. Joining Gatehouse Bank has given me the opportunity to do this. I’ve now been working at Gatehouse Bank for the last three years and I’m very much enjoying the experience. e people you work with can make such

a di erence to your overall happiness in the workplace and everyone here has been so welcoming and collaborative. I also love working in the specialist market and continuing to challenge myself within my role. One of the best parts about the job is that every day feels di erent, which gives me a real sense of satisfaction that I don’t think would be possible in the same way if I was working for a mainstream provider.

What makes Gatehouse Bank stand out?

Gatehouse Bank stands out because of its innovative and wide product o ering, which is especially helpful

for customers with complex cases or who have more niche requirements, as well as those residing overseas.

e sales team’s ‘can-do’ attitude and commitment to being there for our intermediary partners throughout the entirety of the process also makes a great deal of di erence to those who work with us.

We are listening to what is needed within the market and evolving to meet these needs, which makes us a go-to provider for many of our brokers. e manual nature of our underwriting processes allows us to take a more pragmatic approach than some more traditional providers. While they o en rely on automatic assessments, we can look at applications on a case-by-case basis if we feel it is needed. Seeing the individual behind the application is really important to us and can make all the di erence.

What are the challenges facing BDMs right now?

ere is a lot of new legislation being introduced such as changes to Stamp Duty thresholds. As with all change, it will take some time to understand the full impact of these regulatory changes on the market and on individual homebuyers and investors. Rapidly changing swap rates also pose a challenge that many BDMs are currently working with.

Part of the nature of a BDM role is regularly adapting to t the market, o en at short notice. Over the past couple of years, it’s felt like we’ve had to be more agile than ever before. And we’re committed to making sure that brokers are able to access the best support to manage these changes, too.

What are the opportunities for BDMs?

Human expertise still matters. Cases are o en complex and need to be evaluated on an individual basis, so

a BDM is essential to help brokers navigate this. In a recent survey, more than 83% of brokers stated they still see BDMs as crucial to their success, and the most crucial form of support and I think there is real opportunity in this.

In a world where everything is becoming more automated, sometimes sitting down and having a conversation to fully understand the needs of a broker and their clients can be so valuable and appreciated.

How do you work with brokers to ensure the best outcome for customers?

I believe the most important way to help brokers – and ultimately the customer – is to be on hand to guide them and answer their queries quickly and e ciently. I can educate brokers on our products and processes, give them tips on how to use us e ectively, and I am on hand every step of the way. It is especially important to have this support when some brokers do not yet have full knowledge of Islamic nance, although it is rapidly gaining popularity within the industry.

What

advice would you give potential borrowers in the current climate?

Look to potential new opportunities as an exciting endeavour, even it if means you sometimes need to think outside the box.

As the market adapts to wider economic changes, those looking to purchase home nance or investment properties should remain open to options such as houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), which tend to produce higher yields.

At Gatehouse Bank, we have no limit on the number of units in an MUFB or bedrooms in an HMO, which is a criteria di erentiation that really stands out in the market.

We can look at applications on a caseby-case basis if we feel it is needed. Seeing the individual behind the application is really important to us and can make all the di erence”

What would you like people to know about you

outside of work?

I enjoy travelling to new places, I love a bit of karaoke, and I’m also a keen theatregoer. I really enjoy organising social events and would have gone into event management had I not become a BDM. I’m also a mum and a bit of a mad cat lady – I have seven cats! – all of which keeps me very busy when I’m not at work! ●

Gatehouse Bank

Established in 2007

Products

◆ Home Purchase Plans for residents, expats and international.

◆ BTL Purchase Plans for residents, expats and international. Individuals and SPV Limited Companies. Options for HMOs and MUFBs.

◆ Green nance for both homeowners and landlords.

Contact details

emma.kelman@gatehousebank.com

Housing reform could reshape specialist nance

The big question on the lips of everyone involved in the UK housing and mortgage market is whether change is finally coming to the way homes are bought and sold in England and Wales.

This comes on the back of the Ministry of Housing, Communities and Local Government (MHCLG) launching a 12-week Home Buying and Selling Consultation, running until 29th December. Its goal is to overhaul a system that, for decades, has been slow, opaque, and fraught with uncertainty.

Today, the average transaction takes around 120 days, and one in three sales fall through before completion. The Government’s vision is to introduce a faster, digital-first process where be er information is available upfront, binding agreements reduce fall-throughs, and data moves seamlessly between professionals.

If done right, it could cut completion times by four weeks. It won’t happen immediately, but is scheduled to happen before the next

In my view, those who are already investing in technology, e ciency, and broker partnerships will be the ones leading tomorrow’s property nance market”

election in the bid to underpin the delivery of 1.5 million new homes.

If it does, that signifies a real game changer. It’ll bring us closer to markets like Norway, where transactions are wrapped up in a month, or Scotland, where the binding offer process gives buyers and sellers far greater confidence.

For consumers and property professionals, these reforms will be transformative. Faster transactions will mean less uncertainty, fewer broken chains (and hearts), and smoother cashflow across the sector.

The quality test

This also raises the bar for everyone involved in finance. Lenders, brokers and conveyancers will need to move in synch with a faster process. Finance will have to be agreed within tighter timeframes and digital packs will need to provide all the property data upfront.

The days of waiting for searches or valuations could soon be behind us. Instead, verified data, title documentation, and even valuations will be accessible in advance, helping brokers and lenders make quicker, more confident decisions.

This reform will reward agility and partnership. The lenders that thrive will be those that combine speed with service, embracing technology, automating routine checks, and maintaining strong, trusted relationships with brokers.

We’ve already built these principles into our proposition. Our Streamline product, with the automatic application of title insurance, is designed to remove friction, deliver faster completions, and give brokers the certainty they need. Paired with our digital infrastructure and collaborative service model, it means

ROZ CAWOOD is managing director of property nance at StreamBank

we’re ready to move at the pace the new market will demand.

A boon for bridging

Some may say that faster residential completions might reduce the need for bridging, but the reality is the opposite. Bridging uses have evolved massively in recent times, far beyond simply solving chain-breaks, to incorporate greater elements of refurbishment, change of use, commercial expansion, and unlocking equity for reinvestment.

In a world where the mainstream market moves faster, bridging, development and commercial lenders can’t afford to be le behind and need to raise their game accordingly.

These potential reforms are certainly nothing to fear, more an opportunity to seize. In my view, those who are already investing in technology, efficiency, and broker partnerships will be the ones leading tomorrow’s property finance market.

This won’t be straightforward, and I’m sure there will be a few bumps in the road. But if – and when – this reform lands, its momentum should put the industry in a much be er position to hurdle future obstacles. At StreamBank, we’re ready for that future. For brokers, it’s never been more important to align with lenders that focus on progress rather than rely on past glories. ●

Investment assets fuel demand for bridging nance

The Autumn Budget has long been casting its shadow over the financial services sector.

Since the Chancellor confirmed November’s date in early September, speculation has swirled around what it will mean for borrowers and the property sector. With the release of Q3’s Bridging Trends data, we are now seeing the impact of this.

Investing in property

The latest figures demonstrate how specialist finance remains a powerful tool, particularly in times of uncertainty. What instantly caught my a ention was the fact that contributors transacted £209.4m in bridging loans in Q3 – a 4.9% increase on Q2’s £199.7m. Interestingly, this is the highest quarterly figure since Q3 2024’s £220.8m as many borrowers turn to lenders who prioritise speed and flexibility.

This ability to move quickly has been key as rumours around the increase of Stamp Duty persist. Considering this, I wasn’t surprised that funding an investment purchase was the most popular use of bridging finance in Q3, accounting for 20% of all transactions and up from 16% in Q2.

Loans which focused on speed also had a positive impact on the average completion time, which fell from 48 days in Q2 to 41 days in Q3. Not only is this great news for borrowers, but it also highlights how well lenders and their intermediary partners are collaborating to achieve the best – and quickest – possible outcomes.

Aside from pre-Budget ji ers, we have also been feeling the effects of a somewhat sticky property market. As buyers retain the upper hand, the

number of re-bridges jumped in Q3, rising from 7% in Q2 to 12% in Q3.

This suggests that those with a resale exit strategy are finding it harder to redeem their bridging loans within their term. It could also be why the average monthly interest rate increased from 0.81% in Q2 to 0.85% in Q3. It’s worth pointing out that this is still lower than Q1’s 0.86% and Q4 2024’s 0.87%.

Re nance uctuations

Another area which experienced fluctuations was refinance. Regulated refinance bridging loans fell from 18%in Q2 to 12% in Q3, while unregulated refinance dipped from 11% in Q2 to 6% in Q3.

As interest rates have been relatively stable over the past year, it seems likely that a lot of refinances took place earlier in the year and borrowers are now either in fixed terms or are waiting to see what’s going to happen to the base rate.

The Monetary Policy Commi ee held the base rate at 4.00% in November – albeit by a slim majority. This, coupled with the fact that

RAPHAEL BENGGIO

is bridging director at MT Finance

Aside from preBudget jitters, we have also been feeling the e ects of a somewhat sticky property market”

(LTV) only rose marginally, from 54% in Q2 to 55% in Q3, showing that borrowers continue to borrow within their means. The percentage of second charge bridging loans also rose slightly in Q3, from 10% in Q2 to 12%, but I don’t think this represents much cause for concern. Finally, the average term stayed static at 12 months.

Overall, the main takeaway from the Q3 data is that bridging remains an important resource for borrowers

looking for specialist finance. It’s great to see how lenders are servicing clients quickly, and I hope this momentum can be maintained going into Q4. ●

unemployment hit 5% between July and September, means that we could still see a base rate drop before the end of the year. I expect many borrowers are be ing on this.

Despite the rise in investment purchases, the proportion of unregulated bridging loans fell very slightly from 55% in Q2 to 54% in Q3. This demand for regulated bridging was also reflected in data provided by Knowledge Bank, which revealed that ‘regulated bridging’ was the top criteria search made by UK bridging finance brokers in Q3.

I was encouraged to see that the average loan-to-value

Helping or hindering?

While the evidence tells us that debt consolidation is the major purpose for second charge mortgages, there is still a reluctance among intermediaries to recommend a second charge solution. This is partly caused by a historic unwillingness to consider a method that had given rise to negative baggage in the past, and also because of the potential future compliance concerns associated with dealing with customers who present the need to deal with multiple debts caused by credit cards, store cards and maxed out credit deals.

Of course, as can be seen by the regulator’s stance on Consumer Duty, the onus is firmly on advisers to keep in mind the outcomes generated by advice. So, it is important that – when dealing with clients who seek advice on the best ways to deal with credit arrangements that are not under control – advisers remember that consolidation either via remortgage or second charge is only one way of helping clients with a debt predicament. The alternative path is to recommend debt counselling and helping clients make arrangements with creditors.

One thing is for sure: we don’t want to be piling fuel on the fire by chasing new business down the credit curve in an a empt to build volume at the cost of compliance credibility.

Of course, every client lead is an opportunity, and as advisers we have access to powerful tools to help make a difference to peoples’ lives. There is nothing wrong with helping people reduce their monthly outgoings through consolidation, and choosing a second charge solution can make a great difference to clients who are struggling to manage existing debt repayments.

Borrowers’ responsibilities

It could be argued that perhaps we should be asking ourselves whether we should be controlling people’s access to funding for consolidation to ‘save them from themselves’.

There is an argument that people in need of more finance to pay off expensive borrowing, should be policed in some way. However, voluntary debt counselling is there for anyone who wants it, and what’s wrong with a lending solution that reduces monthly outgoings on debt servicing through consolidation?

Financial advisers are in a unique situation to judge which path a customer should take – but the final

LAURA THOMAS is regional sales manager at Equi nance

choice has to be le to them. If they feel that consolidation will reduce their repayment burden to a point that gives them a real chance to put their finances back on an even keel, and the savings made demonstrably leave them in a be er position, then, as someone working for a second charge lender, I am totally in favour.

When a consolidation enquiry comes to us, affordability is a key determinant, along with looking at the credit history for clues demonstrating how applicants have handled their past financial affairs. However, what we can’t see is how well customers will resist the desire to take on more credit once the new mortgage or loan has been granted.

We all agree on the need for customer protection in financial services, and especially lending. What we, as an industry, must not allow, is to be expected to take over all the responsibility for a customer’s decision. If in the future things go wrong, is it the fault of the industry?

Of course, brokers and lenders must ensure that all the checks and balances are met, but ultimately the final responsibility for taking on, in this case, a new loan, is the customer’s to make.

While brokers need to weigh up each client’s needs and their capacity to manage a new financial arrangement via consolidation, ultimately they cannot be held responsible if, a er arranging a consolidation loan, the customer decides to max out their credit cards again.

In a free society, people have the right to avail themselves of any service they choose, but those rights come with responsibilities. ●

Seconds: A rstchoice option

Second charge lending is having a moment, and has more than earned its place on a broker’s radar. At Norton, we’ve been completing faster than at any time before.

One recent case involved a client rejected for a remortgage due to unsecured debt, despite having a clean credit profile. The broker submi ed the case at 3.45pm. By 2.43pm the next day, funds were in the client’s account.

That’s not a one-off. Another client, burdened with over £60,000 in unsecured debt and paying £2,136 per month, was able to reduce their monthly outgoings by over £1,500 with a second charge. The deal completed in just four working days.

These timelines are possible because of how second charges are evolving – faster underwriting, slicker digital journeys using e-signatures and automated valuation models (AVMs), increasingly flexible lender

do so without disturbing their first charge mortgage.

Raising standards

There’s a growing number of lenders improving the speed and appeal of their second charge products. Selina Finance, for example, has revamped its home equity line of credit (HELOC) offering, giving borrowers flexible access to funds, rather than in a lump sum. New entrants like Interbridge are shaking things up with fresh thinking and faster processes. More lenders means more competition, which means be er outcomes on rate, criteria, and service levels.

This isn’t just anecdotal. Second charge business volumes are growing, with July 2025 data from the Finance & Leasing Association (FLA) showing a 15% yearly rise in new business.

That followed a sustained period of growth over 12 to 18 months, where affordability concerns and remortgaging challenges led brokers to consider second charges more regularly. But even as inflation eases

ADVERTISEMENT

and swap rates se le, demand hasn’t gone away.

Why? Because second charges don’t just offer a plan B, they’re o en the best-fit solution for borrowers.

Now’s the time

Second charges aren’t a niche solution anymore. Their days of being seen as a last resort are long gone. Whether debt consolidation, home improvements, school fees, or development funding, second charges are delivering speed, flexibility, and value to a wider range of clients than ever. If you’ve never recommended a second charge before, now is the time to look again. With the right partner and the right process, you could be opening the door to solutions that serve your clients be er than ever before. ●

EDDIE LAU is broker account manager at Norton Broker Services

What every mortgage broker should know

At Safe & Secure Home Insurance Ltd, we work closely with 5,500 mortgage brokers across the UK, ensuring that home insurance and mortgage lending are intrinsically linked.

When handled early and correctly, home insurance can protect your client’s investment, safeguard the lender’s security, and ensure a smooth completion. When overlooked, it can cause delays or even put deals at risk.

Here’s why every mortgage broker should understand and talk to their clients about the vital link between mortgages and home insurance.

Why require insurance?

When a lender issues a mortgage, they’re securing the loan against the property itself. If that property were damaged or destroyed, both the homeowner and the lender would suffer financial loss. That’s why buildings insurance is a mandatory condition for almost every mortgage. It ensures that if the home is damaged by fire, flood, or another major event, the funds are there to rebuild.

Lenders also require that they’re listed as an ‘interested party’ or ‘mortgagee’ on the insurance policy. This ensures they’re informed of any lapse or cancellation, a crucial safeguard for their investment.

Broker tip: Encourage clients to arrange insurance once their mortgage offer is issued, not at the last minute. Missing insurance documentation can be one of the reasons for delayed completions.

Lender expectations

Not all policies are created equal. As an insurance specialist, we frequently help clients adjust or replace cover when needed.

Here’s what most lenders expect: Buildings insurance that covers the full rebuild cost of the property;

Continuous cover for the duration of the mortgage; Mortgagee clause listing the lender by name.

While contents insurance and accidental damage cover aren’t usually required for mortgage approval, they’re invaluable for homeowners’ peace of mind. The majority of homeowners have a combined buildings and contents insurance policy from exchange date.

Exchange, not completion

Many homebuyers assume their home insurance should begin on the day they complete and move in, but cover should start from the date of exchange of contracts. That’s because at exchange the buyer becomes legally responsible for the property, even if they haven’t yet received the keys.

If the home were damaged by fire, flood, or vandalism between exchange and completion, the buyer may potentially still be obliged to go ahead with the purchase and without insurance, they could face a significant financial loss.

By having a valid policy in place from the moment of exchange, both the client and their lender are protected during this critical period when ownership risk has transferred but the home is not yet occupied. It’s a small step that prevents major problems and something every mortgage broker should remind their clients to arrange early.

Bene tting everyone

When mortgage and insurance professionals work together, the client experience improves dramatically.

At Safe and Secure Home Insurance Ltd, we:

Liaise with mortgage lenders to confirm coverage requirements; Issue compliant policy documentation promptly to avoid completion delays;

STEPHANIE DUNKLEY is development director at Safe&Secure

Provide renewal reminders to ensure continuous protection;

See our partnerships with mortgage brokers as a key part of providing clients with a seamless, stress-free journey from offer to move-in.

For mortgage brokers, insurance conversations are more than just a compliance step, they’re an opportunity to add real value.

By raising the topic early and referring clients to a trusted insurance specialist, you:

Demonstrate care beyond the transaction;

Reduce the risk of completion delays;

Reinforce your reputation for thorough, professional service.

In today’s competitive market, offering a complete and confident home-buying experience can set you apart.

At Safe & Secure Home Insurance Ltd, we specialise in supporting mortgage brokers and their clients with clear, compliant, and competitive home insurance solutions.

Our team works hand-in-hand with brokers to ensure every policy meets lender requirements and provides genuine peace of mind for homeowners.

Together, we can make sure every client’s home and every mortgage you arrange stays truly safe and secure. ●

Lifetime mortgages

Financial freedom in retirement?

Pat and Mick (both aged 67) were paying £650 a month on their residential mortgage, and felt trapped. Now with more2life’s Flexi Interest Reward lifetime mortgage, they pay just £100 a month and can enjoy their retirement.

When your clients commit to making voluntary monthly payments, they could be one step closer to achieving the financial freedom they need.

• Payments from as little as £50 a month

• Available from £125,000 property value, ages 55-82

Comprehensive conversations needed

Mortgage customers hoping for more base rate cuts by the end of this year are likely to be disappointed as concerns about the persistency of inflation seem to have put an end to further reductions for now. Monetary Policy Commi ee member Catherine Mann said she prefers a longer hold at 4% following three rate cuts this year from 4.75% which had raised hopes that mortgage costs will keep falling.

The pause highlights a major enduring issue which must be addressed so that older borrowers receive the best possible advice. Advisers, and lenders, should be encouraging over-50s who are remortgaging to look at all options, including later life lending products.

The remortgage challenge

Anyone who took out a fixed rate deal two, three or five years ago will likely be facing a significant increase in monthly costs and sticking on the standard variable rate (SVR) offered by their existing lender will be unpalatable for most.

The Bank of England estimates around 900,000 mortgage customers are coming off fixed rate deals in the second half of this year. On average they will be paying around £146 a month more. Customers who took out 5-year fixed rates in 2020 will be in for a particular shock, potentially doubling monthly payments.

Average 2-year fixed rates are around 4.96% and the pause in base rate cuts means they are unlikely to move much further down. That could be challenging for all borrowers looking for a new deal, but it will be particularly challenging for older homeowners looking to remortgage.

Many may have experienced a major change in circumstances since they last remortgaged, such as stopping working full-time or even retiring. They will now have a lower income, which may make it more difficult to be accepted for the best fixed-rate deals. There may be a temptation to stick on the SVR and see if there is a change of heart at the Bank of England. However, that can be an expensive strategy, with SVRs as high as 8% meaning the increase in monthly repayments is likely to be much higher than the £146 a month average estimate from the Bank of England.

More simply, however, another fixed rate mainstream mortgage may not be the right option, depending on their needs, wants and circumstances.

It is vital that all customers over the age of 55 do not just default to a new product with their existing lender, or even a new lender, when they remortgage, but instead talk to an adviser who can consider all their options.

It is a message that is ge ing through to some extent – Equity Release Council data shows around 48% of later life lending customers are aged 55 to 60, and more than 73% are aged 55 to 65. But much more needs to be done by advisers in the mainstream mortgage market, and it must be driven by comprehensive conversations and a be er awareness or understanding as to the full range of products that may be appropriate for an individual.

Mainstream mortgage advisers who do not include all later life lending products within their scope of advice should still have a wide field of vision to ensure that products such as modern lifetime mortgages, retirement interest-only mortgages (RIOs) and term interest-only

WILL HALE is CEO at Air

mortgages (TIOs) are still considered, even when customers meets affordability criteria on standard products. For customers over the age of 55, affordability should no longer be seen as a binary concept. As an example, lifetime mortgages that allow customers to serve some or all of the interest or make ad hoc capital repayments can be a suitable option, even when eligibility for a mainstream mortgage can be achieved.

Lifetime mortgages come with added protections, such as certainty of tenure and a no negative equity guarantee, and for many customers can support more financial freedom, a be er lifestyle and overall improved outcomes – even if the cost of borrowing may be higher. However, it needs to work the other way as well, and equity release specialist advisers must not shoe-horn customers into lifetime mortgages if products such as RIOs, TIOs or some of the building society products aimed specifically at older borrowers can deliver good outcomes at a lower cost.

With modern lifetime mortgages increasingly suitable for a growing number of customers, they should be seen as a central part of holistic mortgage advice and broader retirement planning.

If mortgage advisers are unable to offer all options, they should at the very least have a trusted referral relationship with a specialist. This will enable all advisers to deliver a holistic proposition, irrespective of their scope of advice, and good outcomes for their older customers no ma er what happens with the base rate. ●

Mitigating IHT means going beyond gifting

Inheritance Tax (IHT) receipts continue to climb. The latest figures from HMRC show that the Treasury collected £3.7bn between April and August, up by £190m (5%) on the same period last year. As a result, we look to be on course for a fourth straight year of record-breaking receipts, following the £8.2bn raised in 2024/25.

It’s no surprise families are increasingly looking for ways to limit their eventual liability. Recent research from Hargreaves Lansdown found that almost a quarter of people plan to give money away to manage their IHT exposure, while 18% said they would simply spend more to reduce the size of their estate.

Various studies show people are ready to act. They understand the challenge and want to take steps now to protect their legacy. Making use of gi ing allowances is a logical first move, but let’s be honest, gi ing relatively small amounts each year will only go so far.

For these clients, lifetime mortgages could provide a more substantial and strategic solution.

Gifting only goes so far

Annual gi ing allowances and regular gi s from income offer a simple starting point, but the sums involved are modest compared to the size of many estates. Even with careful planning, gi ing alone is unlikely to make a material difference to the eventual tax bill for clients whose homes have appreciated significantly in value.

If clients are serious about reducing their IHT liability, particularly where property wealth is concerned, they need a broader approach. That’s where lifetime mortgages can play a central role.

Lifetime mortgages enable homeowners to release a portion of the equity in their property while continuing to live there. The funds can then be used to support family members, provide financial assistance when it’s most needed, or simply pass on wealth during their lifetime.

By doing so, homeowners can not only see the impact of their generosity but also reduce the overall size of their taxable estate. For wealthier clients, this can help maintain access to valuable allowances such as the Residential Nil Rate Band, which begins to taper once the value of an estate exceeds £2m.

Even where clients don’t immediately need the capital themselves, using property wealth to make larger, well-planned gi s, or set up trusts, can have a significant long-term effect. What’s more, it can be achieved without the upheaval and emotional strain of moving home.

Specialist advice

While advisers can and should highlight the potential benefits of using property wealth in IHT planning, clients must also receive independent tax advice before acting.

The rules around gi ing, trusts and estate valuation are complex and subject to change, especially with the planned inclusion of pensions in IHT calculations from April 2027.

This creates an opportunity for closer collaboration between advisers and tax specialists. Working together ensures clients receive comprehensive, joined-up advice, helping them make decisions that are both tax-efficient and appropriate to their longterm goals.

For advisers, these partnerships are also commercially valuable, strengthening their proposition and

DAVE HARRIS is CEO at more2life

Even with careful planning, gifting alone is unlikely to make a material di erence to the eventual tax bill”

positioning them as trusted experts in an area of rising client concern.

The crystal ball

Last year’s Budget introduced significant changes that will shape IHT planning for years to come, and with another Budget this month, speculation is already mounting about whether the Chancellor will return to the issue in an effort to boost public finances further.

Whatever happens, advisers can expect IHT to remain a growing priority for clients. They will be looking for practical, compliant ways to reduce their exposure, and property wealth will be central to that discussion.

Lifetime mortgages can provide a powerful, flexible way to help clients achieve this. They allow homeowners to act now, take control of their legacy, and support the next generation, all while managing the potential impact of IHT.

Now is the time for advisers to raise the subject and ensure clients understand the full range of options available to them. While IHT remains one of the most unpopular taxes, with careful planning, it doesn’t have to be an inevitable one. ●

Meet The Broker

Just Mortgages

Marvin Onumonu speaks with Lee Daffern, mortgage and protection adviser at Just Mortgages Self Employed

What made you become a broker?

Like many, being a broker wasn’t always my ambition. I went to university and got a degree in journalism and wanted to be on the plane with the England cricket team. That was what I wanted, but it never really materialised. After getting my degree, I worked in a couple of different roles before getting a job at Co-op Bank in customer services.

I moved up the ladder, becoming a mortgage adviser in 2002 and taking on further roles, before taking redundancy and going to work in compliance. I then got a job as a business development manager (BDM) for an insurance company, but missed being at the coalface

dealing with people. As I already had the qualifications from my time with Co-op, I applied for a role with Countrywide as an adviser and was there for nine years. That was 11 years ago now. So like many, it was not something that I always wanted to do, I just fell into it and realised I enjoyed it and was good at it. I enjoy helping people and seeing that look on their face when they realise they can buy something.

After nine years, I had reached a point where I wanted greater autonomy and independence in how I work with clients, and running my own business was the logical step to take, creating an environment where I can march to the beat of my own drum. That was the primary reason for then going self-employed with Just Mortgages, and I’m loving it.

What might people like to know about you outside of work?

I’ve got three loves in my life. I have my family – my wife and my two sons – but I also love outdoor cooking and barbequing. I love cooking with fire, and my wife knows that if she ever loses me during the food shop, she’ll find me in the meat section or stuck talking to the butcher. Third is Orlando – my happy place is Disney World, it’s what I work for.

If I’m not paying off a holiday there, I’m busy planning one. We’ve just come back from two weeks there this summer, and while we were there we were already planning next time. I love watching online vlogs of

people who go to Disney and Florida, and people who are cooking over fire.

What would you say sets Just Mortgages apart?

The biggest thing that I’ve noticed and one of the main reasons for joining is the level of support they provide their brokers. They have a saying, ‘on your own, but not alone’, and it’s stuck with me. It’s something I noticed as I adjusted to self-employed and the post-Covid-19 world of working from home. I’d always worked in an environment where you are with other people.

That was one of the big worries for me going self-employed, but it doesn’t feel like that at Just Mortgages. There is a community of brokers and we’re all in the same boat – there’s a wealth of support offered and it’s fantastic. From a financial point of view, there is fair commission splits, so it’s clear and straightforward what I’m going to earn – and that’s important.

For clients, we have a fantastic fact-finding system, which is groundbreaking – it has built-in artificial intelligence (AI) and is not a rigid system, so it moves with the client. If I’ve got the tools to do the job from Just Mortgages, I will do a better job with my clients, and I can’t fault them for that.

I can see where my business will be in three years’ time because of the systems we are using. It makes the job far easier, too, and means I can spend more time getting to know my clients and what they want, rather than on admin.

What are the current opportunities in the market for brokers?

I’d say it’s the opportunity to deal with the number of lenders we have access to. Through Just Mortgages, we have more than 25 different lending opportunities which gives us a greater opportunity to tailor a solution for the client.

One of the freedoms of being selfemployed is that if I need to spend a day researching a case for a client, I can. I’m not in an environment where there’s estate agents or pressure on volumes. That in itself is a massive opportunity in the market – going self-employed. The shackles are off, and you have the complete autonomy to be the best broker you can be. I did that the best I could in an employed environment, but being self-employed, I can go up a level and really kick on.

What are the current issues affecting your sector?

House prices is probably the biggest one. Anybody with children will worry about them being able to afford a house and get on the property ladder. It’s a big issue and one that impacts everybody that is looking to buy a house. If house prices get too expensive, fewer people are going to be able to buy them.

You have the complete autonomy to be the best broker you can be. I did that the best I could in an employed environment, but being self-employed, I can go up a level”

People are borrowing more and are putting less down as a deposit because they are getting squeezed. As lenders have widened the net and stretched criteria to enable borrowers to get on the ladder, we have seen massive growth in higher loan-to-value (LTV) lending – which is something to watch. It continues to prove the point for professional advice when reviewing your options.

My approach with clients is to take a lot of the emotion out of the process to ensure clients are hearing what they need to hear. The best brokers are the ones who are fair and honest and tell clients what they need to know and hear. At a basic level, clients must consider what they are comfortable spending each month and stick to that.

In what ways could lenders better support brokerages?

I’d like to see BDMs back out on the road more. I think post-Covid, we have seen a greater shift to Teams or Zoom calls, which is great and has its uses. However, when you’re working with BDMs who are trying to talk to you about their niches, being able to do that face-to-face makes so much difference.

Especially for new brokers, there is so much value and support in a dedicated point of contact, rather than a call centre. I’m nearly 11 years in the job, so I know the lenders’ criteria and nuances of what they do – new brokers coming into the industry don’t necessarily have that.

I was constantly speaking with BDMs when I first started, and running it by them, or even on the phone or when they come in and see you – it’s really important.

Are there any business developments in the pipeline?

Eventually, I would love to have a brand name or a trading style for my business. I’d like to get to the point of having a brand and an identity where I can walk out with a polo shirt with a logo on it. Primarily though, my focus is on growing my business, marching to the beat of my own drum, not one beat for me.

I am thriving on the freedom of being self-employed and all that brings – doing a job I thoroughly enjoy and being the best I can be. ●

Trust me, I’m a psychologist…

So, ‘Celebrity Traitors’ has finished. It made me reconsider trust. People were so prepared to trust, based on the most ridiculous logic, with o en devastating consequences.

I have always been amazed by the trust people put in me before they have enough evidence to judge me accurately. Before clients have even se led in their seat, innermost secrets are revealed with a sigh of relief. I have a deep ethical commitment to confidentiality, but they don’t always know that.

I always start coaching from the inside out. To trust yourself, you must know yourself, your strengths and your values. Who are you? What do you stand for? What are your values?

Years ago, I was unaware that a client was observing me in a challenging situation. She later said, ‘I knew what you would do’. I had not known how I would react, but she had a clear sense of my values that predicted my behaviour. It made me contemplate the values that are carved through me like a stick of rock.

A client and I were recently talking about his strengths. Honesty came top. I asked, “Does it ever get you in trouble? If so, why keep doing it?” He answered: “Yes, I am accused of being too direct, but it wouldn’t be me if I didn’t. People trust me to tell them the truth.” We agreed more diplomatic style he could work on, while maintaining his values.

Who and why?

The Trusted 10 exercise is a great way to start. Who are the 10 people (excluding family) you would you trust with your secrets? Answer the following about each of them: gender, ethnicity, age, sexual orientation, education, disability status, mental status, and any other defining characteristics. Looking at that list laid out in black and white, how broad

or narrowly defined is your group? I did this exercise with a Scandinavian bank, where participants laughingly realised everyone on their list was both the same nationality and blonde!

We, very simply, instinctively trust people who look or sound like us. It helps to be aware of that. If someone is a fellow Scot, I’ll give them an unreasonable benefit of the doubt – I’ll be immediately, intrusively friendly. It’s a prejudice I admit I have.

We must work harder at establishing trust in a wider range of diverse people.

So, what builds trust? Here is a crash course:

Be consistent and reliable: Do what you say you will do and follow through on small tasks and commitments to build a reputation for dependability.

Communicate openly and honestly: Share your thoughts, feelings, and experiences openly, and address issues and challenges transparently rather than hiding them.

Show vulnerability: Be authentic and open about your feelings and experiences; taking responsibility for mistakes also makes you more human and trustworthy.

Listen and show respect: Actively listen to others’ points of view, even if you disagree, to foster understanding and make them feel valued.

Set and respect boundaries: Share your limits and respect the boundaries of others, including physical space and alone time, to build a foundation of mutual respect.

Be empathic: Show that you care by understanding and responding to others’ needs and challenges.

Trust at work

There’s a lot of talk about culture, yet achieving culture change seems to defeat people. Start with defining expected behaviour, refining communication so people can hear

AVERIL LEIMON is co-founder of White Water Group

and act on what is said. It isn’t difficult if you endorse consistency.

But what do you do when people do not behave this way, especially if they are your star or rainmaker? You have to be ruthless in pursuing your standards. Even if that means having some difficult conversations and losing people if they are incapable of behaving as you indicate.

And when it goes wrong?

If you broke the trust:

Apologize sincerely. Offer a genuine, heartfelt apology that takes full responsibility for your actions without making excuses.

Be transparent. Engage in open and honest communication. Answer all questions to show your commitment to transparency.

Demonstrate commitment to change. Show through your actions that you are serious about rebuilding.

Be patient. Understand that regaining trust takes time. If your trust was broken: Acknowledge your feelings. It is normal to feel angry, anxious, or hurt. Grieve the loss of the relationship as you knew it.

Communicate your needs and fears. Express your concerns and what you need to feel safe again.

Start with baby steps. Build trust back slowly and gradually Learn to forgive. Forgiveness is personal. It doesn’t mean forge ing. It involves releasing the hold the betrayal has on you and deciding to move forward.

People want to be able to work, and performance is the icing on the cake. I have recently done some short, lively workshops on this topic. Let me know if you want my help. ●

THE PROCESS IS NEVER SIMPLE.

We o�er dedicated broker support for any �rst time buyer challenge with a range of helpful tools, guides and contact options. We don’t see a problem, we see an opportunity to help.

Visit our �rst time buyer page at leedsbuildingsociety.co.uk/intermediaries

FOR INTERMEDIARIES ONLY

It’s OK not to be OK

Failed residential property transactions are a significant and costly issue in England and Wales, with research commissioned by Santander estimating that around 530,000 transactions collapse each year.

Santander’s report, ‘Fixing the Broken Chain’, is one of the more comprehensive papers I’ve seen on the impact that the stress of buying a home has on people. According to the report, nearly one in four adults a empting to buy a home experiences a failed purchase, resulting in £1.5bn in losses to consumers and the broader economy.

The effects extend beyond these immediate losses. Many potential buyers and sellers delay or abandon moving altogether, with 28% of consumers saying they are less likely to move again following a negative property experience – a figure that rises with age.

For borrowers, the property buying process is o en lengthy, complex, and stressful. The housing market in the UK is antiquated in some quarters –conveyancing and valuations o en cause hold-ups due to being underresourced industries reliant on a technology stack that is not fit for purpose in today’s world.

It’s having a material impact on transactions. Santander’s report suggests that nearly a quarter of buyers have considered abandoning their purchase due to the complexity of the process. Only one in 10 buyers anticipated it taking longer than six months from offer to completion, yet 17% experienced delays beyond that timeframe.

The emotional impacts are pronounced. While 46% of buyers felt excited or hopeful during the process, 54% reported feeling consistently stressed. Failed transactions amplify these challenges, with 57% of affected

buyers reporting increased anxiety, 49% experiencing disrupted sleep, and 26% noting strain on personal relationships.

The financial consequences add to the anxiety, and actually put a figure on it. Approximately 85% of people who experienced a transaction collapsing reported some sort of financial loss. On average, they lost £1,240 each time a purchase fell flat, but one in five people reported losses in excess of £2,000.

There is a tangible personal impact that our creaking system has on clients. But that stress goes further. It also impacts on advisers, who nine times out of 10 are the ones dealing with that stress, anxiety and even anger born of intense frustration at something that should, surely, not be this complicated.

At TMA, and more broadly in the LSL parent group, we have worked hard to provide the support that our network and club members and our own employees need.

Under the support of our executive sponsor, LSL chief risk officer Saad Hussanuddin, our Communities Forum is responsible for enabling the group’s colleagues to have a sustained and positive influence on the communities we work in.

In 2024, the forum focused its programme around four seasonal charity campaigns and launched a group-wide paid Communities Day initiative. This allows up to a day that all colleagues can request to take off from their normal duties, enabling them to participate in a local charitable or community benefit initiative, either an individual basis or with a group of colleagues.

Last year, the training team in our Financial Services Division offered their support to Oasis Mental Health Support. They helped to garden a 3.5 acre field in Knowle which is available to those seeking help from the charity. This builds on the

ROB MCCOY is senior product and business manager at TMA

work we’ve done over several years, including recruiting and training 25 Mental Health First Aiders within our surveying and valuation division in 2022 – a programme that has been expanded across the wider group.

Our own LSL Group chief distribution officer Emma Hollingworth has championed the importance of being open about mental health and wellbeing, opening up last year about her own personal experiences in the Mortgage Industry Mental Health Charter interview series.

She put it brilliantly in a recent post on LinkedIn: “I’ve always been a huge advocate for mental health not just because it ma ers, but because like many, I have lived with it over the years. In our industry, fast-paced, high-pressure, and o en built on performance, it’s easy to forget that we’re all human. Behind every target, every success, every smile in the office or at an event, there’s a story. Sometimes, there’s pain.

“What’s made the biggest difference for me is connection. A conversation that starts with, ‘You OK?’ A colleague who listens, really listens. A friend who doesn’t judge, but simply shows up.

“We talk so much about resilience and strength, but vulnerability is strength too. The courage to talk. To reach out. To admit when things aren’t OK. That’s where real leadership and real friendship begins.

“So let’s keep talking. Let’s check in on each other. Let’s build an industry that leads with heart as well as ambition.”

I couldn’t agree more. In such a busy, high stress environment, I’d encourage all our members to take the time to look a er one another, and yourself, a bit more. ●

Get more leads from your website

We ran a test on a mortgage broker’s website, comparing Google Reviews against text testimonials. Two identical pages, with the only difference being in how client feedback was displayed. Each page received 250 views.

The Google reviews page generated 48 leads, while the testimonial page generated 8. That’s six-times more leads, just because people saw Google reviews.

Why does it work?

Just as you check reviews before booking a holiday or buying something from Amazon, your clients are doing the same.

‘Social proof’ is where people, when uncertain what to do, tend to follow the actions or opinions of others. This concept has been substantiated by numerous studies and examples.

Social proof is one of your strongest assets. It has the power to sell holidays, products on Amazon and motivate people to contact a mortgage adviser.

Believable quality

Our data suggests that Google reviews hold more weight than text testimonials. People are familiar with how Google reviews work, having seen or even le their own before. In contrast, they could think wri en testimonials are easy to fake. You can’t just say “we have loads of happy clients,” but you can use Google reviews to prove it.

People who aren’t ready for a mortgage are desperate for help. From anyone. However, clients with great credit, a decent deposit and realistic expectations are far more picky –they’ll spend more time choosing someone they trust. More five-star reviews will help you a ract the clients you want.

Reviews not only drive more inquiries when displayed on your website, but generate more leads straight from Google, too. When someone searches ‘mortgage broker near me’, they’ll see a map featuring three local businesses.

With more people searching for brokers than ever before, securing a spot in the top three costs nothing, it simply requires consistently collecting Google reviews from your clients.

Trustpilot reviews work just as well on your website as Google reviews, but they don’t help you get the bonus leads when someone searches ‘mortgage broker near me’. Vouchedfor and other industry sites are good, but don’t hold as much weight. Likely because they’ve not been seen before by most people. You can’t transfer reviews from one platform to another. If you want to move your Vouchedfor reviews to Google, you’ll have to ask your clients to leave another review.

What can you do?

Integrate the Google review request into your existing process. The perfect moment is immediately a er they receive their mortgage offer. By sending a link to their phone at this point, this way, you can make the most of their appreciation before it drops off by completion.

A direct link on their phone makes it more likely they’re already logged into Google, which makes it easier for them. Try sending a Whatsapp rather than email, you’ll get more reviews.

People look at your most recent reviews, if it’s been months since your last one it could repel rather than a ract clients. Be consistent, ask everyone at offer. Keep a steady flow, and you’ll get more leads.

Google doesn’t provide any code or widget to display the reviews on your website. So, you’ll need a third-party tool. Elfsight.com provides a free option, but Trustindex.com has more professional looking options.

ALEX CURTIS is founder of e Lead Engine

Clients with great credit, a decent deposit and realistic expectations are far more picky –they’ll spend more time choosing someone they trust”

If you have more than 100 five-star Google reviews, that should be the first thing people see. Placing this prominently at the top of your website is crucial, as it holds more significance to the general public than your logo. If they have to scroll, they might never see it. You should also prominently display some of your latest reviews within your content and at the bo om of your site.

Not a standalone solution

Remember, while the power of social proof is undeniable, it’s not a silver bullet. While reviews significantly boost your credibility and influence decisions, relying solely on them can be a misstep.

The pages in our test incorporated a variety of elements, like introducing the advisers, persuasive copywriting, a clear call to action, content tailored to the specific mortgage scenario and a user-friendly layout.

Social proof acts as a powerful amplifier, but it needs a solid foundation to generate results. ●

On the move...

Adam Tyler appointed CEO of BDLA, Vic Jannels to step down

The Bridging & Development Lenders Association (BDLA) has confirmed Adam Tyler as chief executive officer, taking up the role in early 2026.

He will replace Vic Jannels, who is stepping down at the end of the year a er six years at the helm.

Tyler was previously chief executive of the National Association of Commercial Finance Brokers and executive chairman of the Financial Intermediary & Broker Association.

AFIG appoints D’mitri Zaprzala as managing director

AFIG has appointed D’mitri Zaprzala (pictured) as managing director, joining the business with immediate effect. Zaprzala was most recently CEO at Avamore Capital.

He will work closely with CEO Jordan McBriar, alongside the wider leadership team, to drive the next phase of AFIG’s growth.

McBriar said: “There aren’t many opportunities to partner with genuine, well-respected and experienced talent nowadays, so welcoming D’mitri into the fold is a real milestone for us. His appointment [...] further cements our commitment to grow and keep reshaping the specialist finance horizon.

"Working alongside myself, Harry [Hodell] and the wider team is hugely exciting, and we cannot wait to deliver on our plans for the future.”

He said: “Having been involved in specialist property finance for nearly 35 years and running trade associations in the sector for over 20 years, it is a real privilege to become CEO of the BDLA."

Jannels said: “I have really enjoyed the intense and exciting challenge of this amazing sector of the mortgage market. I have known Adam for many years and am certain that he will bring his considerable experience and knowledge to bear in taking the BDLA to new heights.”

LHV Bank appoints Callum Livingstone as lending director

LHV Bank has strengthened its UK lending team with the appointment of Callum Livingstone as lending director. Livingstone will work across both trading and real estate businesses, focusing on term debt and investment lending, including growth, acquisition and expansion finance.

He joins LHV Bank following four years at Cynergy Bank, where he progressed to relationship director, supporting a range of SME and property clients.

Livingstone said: “LHV Bank has achieved a huge amount in a short time since its UK launch in 2022,

e Hill Grou appoints Helen Rieman as business growth director

The Hill Group has appointed Helen Rieman as business growth director, a position created to accelerate its expansion and deepen its partnerships with local authorities, housing associations, and public sector organisations.

Rieman has held both consultancy and delivery roles and has a strong record of leading major affordable-led regeneration projects. Before joining Hill, she served as board director at Wates Residential.

Andy Hill OBE, founder and group chief executive of The Hill Group, said: “[Helen's] extensive experience in securing and delivering complex partnership projects, combined with her commercial insight and deep understanding of the housing landscape, makes her a valuable addition to our leadership group.

building a reputation for being fast, flexible, and truly relationship driven. Joining such an ambitious team that’s passionate about supporting brokers and their clients is incredibly exciting.

Zaprzala added: “I’ve worked with Jordan for nearly 15 years and Harry for 10, in different ways, which makes this opportunity a natural fit for us all.”

"I’m looking forward to helping more businesses access the right funding to grow and succeed.”

"Helen’s appointment comes at an exciting time of growth for Hill, as we continue to strengthen our pipeline and build on our reputation as a trusted partner of choice for both public and private sector clients.”

growth, with a culture that fosters Hill apart. I’m looking forward to

Rieman added: “Hill is privately owned yet fully geared for growth, with a culture that fosters collaboration and excellence hand in hand. Clients know they can pick up the phone and speak with the senior teams, and that openness and responsiveness set Hill apart. I’m looking forward to helping shape Hill’s next chapter of growth."

HELEN RIEMAN

ADAM TYLER

How our blended ICRs could help your client achieve the loan size they need

When I’m out and about on my travels I’m often asked how brokers can maximise their clients’ borrowing potential. I always tell them they need to set up a case in a way that’s advantageous to their clients.

So, how do you go about doing that? Let me explain how. One of the more nuanced areas of buy-to-let is how lenders assess affordability, particularly when it comes to the interest coverage ratio (ICR).

Typically, lenders will apply a standard ICR of between 125% and 140%* for personal ownership applications, depending on factors such as income tax liabilities and ownership structures. Basic rate taxpayers are usually assessed at 125% ICR and higher rate taxpayers at 140% ICR, while the ICR for additional rate taxpayers varies from lender to lender. The ICR can also vary depending on the property type, with HMOs and MUFBs often stressed higher than single dwelling properties.

But what happens when one of the applicants is a basic rate taxpayer and the other a higher or additional rate taxpayer? Many lenders will default to the higher ICR meaning the rental income must cover a higher proportion of the mortgage payment, potentially leading to a lower loan amount.

How we could help

At CHL Mortgages for Intermediaries, we understand the complexity of individual circumstances. As an experienced specialist lender, we’ll consider a blended approach to ICR affordability for borrowers who have different tax bands and shares of ownership or rental income, helping them achieve a larger loan amount.

Roger Morris Group Distribution Director

Mr and Mrs Green have recently inherited a large sum of money. They’ve decided to invest in property.

They’d like to purchase a three-bed property on the market for £290,000 with an estimated rental yield of £1,200 per month.

They’re looking for a 5 year mortgage at 75% LTV. However, with Mrs Green being a higher rate taxpayer, most lenders are applying an ICR of 140%, meaning they can only borrow £206,956 – well below the £217,500 they need to purchase at 75% LTV, leaving them to stump up a larger deposit or find a cheaper property.

Fortunately, we can offer blended ICRs, calculating borrowing based on the average ICR of all applicants. With a blended approach, we’d apply an ICR of 132.5% meaning Mr and Mrs Green could now borrow up to £218,670 with us, an increase of almost £12,000, meaning they can now achieve the loan amount required

What’s more, if Mr and Mrs Green considered shifting ownership structure from joint tenants to tenants in common with Mr Green holding 99% property share, we can offer an even more favourable blended ICR of 125.15%, meaning maximum borrowing rises to £231,513, that’s an increase of over £24,000.

With the increased loan size using our blended ICR and a change to tenants in common, Mr and Mrs Green can now not only afford the original three-bed property, they could even afford a more expensive four-bed property with a higher yield.

As always, landlords should seek professional tax advice when considering restructuring property holdings and make sure they declare it appropriately to HMRC, but helping your clients understand the advantages of blended ICRs and the different ownership structures can make a massive difference to investment strategies.