Mortgage advisors signal support for Project 28
November 4, 2025 by Heidi
Mortgage Advisors
The majority of mortgage advisors have indicated that they support Project 28, a plan to reduce the amount of time needed to complete property transactions.
Project 28 was first announced back in September and it is the brainchild of 23 of the biggest property organisations in the country. The plan is to cut average transaction times from the current 109 days to 28 – hence the name. Now, almost nine out of every 10 mortgage advisors have told a new survey that they back the idea, which amounts to 89% of them. This survey is the Broker Barometer by HSBC.
It is conducted four times a year and sees HSBC talk to a total of 465 advisors. In this latest one, the majority of them said that the project would be a good move for the property sector. Meanwhile, 57% stated that between one and two years would be needed to get transactions times down to 28 days.
Advisors also cited factors that they felt could help in achieving that goal. One of them was for lenders to make crucial information available up front. Another was the availability of secure data sharing, while a third was early conveyancer instruction.
The intermediary mortgages head at HSBC is Chris Pearson. Talking to Mortgage Finance Gazette, he said:
“Their support for Project 28 underlines a shared commitment across the industry to make the home-buying journey faster, more transparent and more efficient – something that will benefit brokers, customers, lenders and conveyancers alike.”
It is thought that those with the CeMAP qualification would benefit from an industry-wide movement to implement Project 28.
Written by
Heidi
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