FR: You recently joined Chetwood as mortgage distribution manager – how are you settling into the role and what would you like to achieve in your first 12 months?
I’ve been here for nearly a month now and one of the things that’s really hit me is the culture – it’s unbelievable! From day one I’ve felt really valued, trusted and respected, and there’s a real lack of egos. It’s really refreshing.
There’s a shared vision to do things differently, and because we all want the same thing, everyone is pulling together as a team to achieve it. Of course there are challenges, the same as anywhere else, but the ambitions Chetwood has got mean the growth plans are really exciting.
My personal goals over the next 12 months are to expand my reach, share our vision and help as many advisers as possible get to know us better. With this culture, and this vision, I’m confident that we’re going to go from strength to strength in the coming year.
FR: How do you foresee interest rates playing out over the remainder of 2025 – are we at a ‘new normal’ for mortgage rates?
Who knows! It’s a fool’s errand to make any predictions for what the future holds, but what I’m really encouraged by is just how resilient the mortgage industry continues to be.
We’ve been through some tough times over the past few years – Covid, changes in government, interest rates the highest they’ve been in a generation, etc. – and it’s been a real rollercoaster, but it’s still here and still thriving. People will always need somewhere to live. So, as long as we remain agile, listen to what the market needs and adapt our products to support that, then we’ll be fine, whatever the ‘new normal’ turns out to be.
FR: Will the government’s Mortgage Guarantee Scheme (MGS) and loosening LTI rules have a tangible impact on the number of first-time buyers? What other support would you like to see introduced?
While we’re not in the residential space, I believe it will have a positive impact on first-time buyers.
I’d also like to see the government doing more to support buy-to-let. Looking after landlords is just as important if you want a balanced property market. It will be great if more people can buy their own houses, but we can’t forget that there will always be a demographic that can’t afford or doesn’t want to purchase a property. A healthy rental market must be a part of a long-term solution to the housing crisis, and leaving landlords out of the conversation will slow down the progress that’s being made.
FR: How will the FCA’s changes to mortgage rules impact both lenders and advisers?
For lenders, it’s a chance to revisit how we design products. To stay competitive and compliant, lenders must continually evolve, ensuring their offerings address real-life situations effectively. Placing landlords at the core of product development will be crucial to delivering solutions that truly meet their needs.
Meanwhile advisers will continue to be worth their weight in gold. The best advisers look at their clients’ broader financial positions and know that it’s not always about the cheapest rate. They think long-term and choose the product that’s right for their clients’ plans, and that will be even more important under the new rules.
FR: If you could read one headline about the mortgage market in 2025, what would it be?
I touched on it in an earlier answer, but I want to see a more holistic approach that benefits the housing market as a whole. The MGS is great for people buying their first residential property, but I want to see similar measures introduced to support landlords. Everybody is collectively part of the solution. There’s momentum now and I want to see it grow further, but this is something that can only be achieved by everybody working together.
