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What are the pressing housing issues in 2024?
The stability of a housing minister who stays in post for the longer term, after a number of different MPs filling the role over recent years, is on Askham’s wish list. A lack of property coming to market is a challenge, she believes, and the slow granting of planning permissions is hampering the building of new homes.
Askham has been with Buckinghamshire Building Society for nearly four years – it is a mutually owned, independent building society founded over 100 years ago, that provides specialist mortgage products for members through its intermediaries.
What challenges face the mortgage industry currently?
Among the challenges Askham identifies in the current market are uncertainty of rates, which she believes is not helping applicants make informed decisions, and lenders withdrawing rates at short notice, effectively causing brokers to repeat their part of the mortgage process a number of times. She hopes that the industry will in a stronger position in 12 months’ time, with more stable rates to build consumer confidence, and also wants lenders to rethink how they view more challenging cases.
“Most cases now are of the more quirky nature, with more than one issue, which does not make them a poor case,” Askham said. “Straightforward easy cases have gone, so lenders need to look at how they can help support these types of clients to keep the marketing moving.”
