Although 2021 was another challenging year for the UK as a whole, the situation for the mortgage sector was surprisingly good. Now is the time to think about what the key objectives for lenders and advisors should be in 2022, as we enter 2022.

The environmental matter

A survey by Deloitte found that 32% of the British public consider climate change and sustainability to be major issues for them. The mortgage sector cannot afford to ignore that, and there is plenty that can be done. Lenders are already providing more green mortgages, and advisors should prioritise educating themselves about these so that they can inform customers who enquire about them.

First-time buyer support

It has never been harder for first-time homebuyers to find a house, thanks to a lack of available homes and spiralling prices for those that are on the market. In total, 91% of these buyers told the HomeOwners Alliance that they see this as a real problem. Lenders must look to provide loans tailored to their needs, while advisors must use their CeMAP course training and specialist lender contacts to find options to help them buy their first home.

Making the sector representative

In 2022, the mortgage sector needs to continue to build on existing work aimed at improving inclusion and diversity levels to ensure all customers feel represented. An Association of Mortgage Intermediaries poll found that 52% of ethnic minority people and 54% of women did not feel that way, showing that there is much still to be achieved.

By keeping these priority considerations in mind, mortgage advisors and lenders can help encourage another successful year for the industry.

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