Looking forward to 2022

As we head into the new year, we wanted to give you an impression of the mortgage market and what it will do in 2022.

There is no doubt that the last couple of years have been pretty difficult for all concerned. Most businesses have had to change their processes and systems. Here at go2, we've switched up our way of working and we are now doing 90% of our mortgage applications non-face-to-face. This has been a big change for us, but we've got to adapt and change.

‍

Property market predictions

Some of you may have seen the Move Sales & Lettings' video, which was their commentary on the property market in 2022. For us in the mortgage industry, things have never been so busy. The recent rise in property prices and the shortage in stock in the marketplace haven't really made much of a difference.

‍

Two big winners

In 2022, we believe there are two main areas that are going to be big winners for us and our clients.

The first one is first-time buyers. In 2021, we had a large increase of first-time buyers. Most of these were renters when we first spoke with them and typically we would meet six to nine months before they actually bought and moved into a property. One of the main reasons we are in touch with renters so far in advance of completion is that there are many things that renters can do to improve their position and make it easier for when they do get to the point of buying. As mortgage brokers we can help improve purchasing prospects exponentially.

The second group is buy-to-let purchases. The additional stamp duty is not stopping first time landlords, nor established landlords, adding to their portfolios. In addition, the lenders are improving the products available to all buy to let borrowers, and they're actually making it much less difficult to finance buy-to-let properties, which is really good news.

‍

How can we help?

The go2mortgages team can help in a myriad of ways. Whether you are a renter who wants to buy their first property at some point in the future (whether it be in one or six months time), we need to speak to you as soon as possible. Or, if you are a buy-to-let portfolio landlord, and you're trying to add some new properties to your portfolio, or you're a first time landlord, that's again the same, get in touch with us as soon as you can.

One other basic area that we can help is re-mortgages. Put simply, if you've got a mortgage that is coming to the end of its fixed or tracker rate, drop one of our mortgage advisors a message and we can help.

The common denominator with all of these areas is that most people need advice, and support, and help during any part of the property purchase process. Which is where we come in! You may have seen our instagram post (@go2mortgages) that shared the scary statistics from the financial reporter that, despite admitting poor confidence, only 52% of millennial consumers (aged 25-44) re-mortgaged via an advisor in the last two years. We are experts in our field and can help you at whatever stage you are at.

‍

Our own growth at go2mortgages

Over the last year, the go2mortgages team has grown in so many ways. We are arranging more mortgage applications than ever before. The gross amount of lending that we arrange for our clients is growing quarter by quarter and month by month. One really pleasing area is the amount of life insurance cases that we are arranging has increased hugely over the last couple of years, which means that we're now protecting more individuals and more families, who are in turn protecting their loved ones.

In addition, we've also grown as a team. We have more staff than we have ever had, meaning our team is now three mortgage brokers strong, plus admin, processing and marketing to support. The main purpose for this is so as we can maintain the excellent service levels that we provide for our clients on an ongoing basis.

‍

Contact us today

There is no such thing as a stupid question. Please reach out to the team on 01242 237866 or email one of our Principal mortgage advisers on liam@go2-mortgages.co.uk or phil@go2-mortgages.co.uk