In October, Hollingworth warned mortgage brokers on FTAdviser’s podcast they could not rest on their laurels following the stamp duty holiday.
A month later, it was revealed that property transactions fell by nearly half (48.4 per cent) in October, signalling the lowest house sales that month has seen in nine years.
Carl Shave, director at Just Mortgage Brokers, said: “We will likely now see an adjustment in the market for those that brought their purchase plans forward with a tail off in house purchase transaction for 2022.
“However the mortgage market looks to remain healthy for 2022 with the anticipation of continued house purchase activity combined with an expected high volume of borrowers coming to the end of their mortgage deals in the next 12 months.”
Aaron Strutt, product and communications director at Trinity Financial, agreed that while this year has been busy, 2022 “probably won't be quite crazy”.
“The stamp duty holiday sent the market wild, especially with the availability of super cheap rates, he explained.
“There is certainly more interest in the buy-to-let sector and that's reflected in the lending figures.
“Many brokers will expect to have another busy year, but it probably won't be quite as crazy as this one unless the government brings in another stamp duty holiday.”
ruby.hinchliffe@ft.com
