Adam Oldfield, chief revenue officer at Phoebus, says:
“Although we were still feeling the fallout from the mini-budget across the housing market months down the line it appears, from the non-seasonally adjusted transaction figures which have been in the pipeline for upwards of three months, that things weren’t as bad as everyone thought. Thankfully, even though there are still obvious concerns while inflation remains in double digits, confidence appears to be increasing. Of course, the current increase in activity won’t be seen in the HMRC figures for another couple of months.
“The key for lenders, and brokers, will be to keep the hopper full and that means looking at future lending holistically. There is a huge number of people on fixed rate deals that are coming to an end this year. House purchases may well be increasing at the moment, but that is only half the story and helping borrowers coming off fixed rates presents a huge opportunity that needs to be managed well.”