The new business development team will cover the Midlands and Wales, Yorkshire, Humberside and the North East, and London and the South.

Borrowers are willing to take on more risk for the chance of lowering their monthly payments when the crisis ends and rates start coming down. 

Stonebridge’s Mortgage Market Index found that overall mortgage activity rose by 24.6% in Q1.

Nick will cover London and the South East.

Remortgages with new lenders using MAAs up 126% year-on-year, but ‘plenty of scope’ for more consumers to benefit.

Borrowers pushed submissions 54.3% higher compared with the same period a year earlier. 

Lower inflation and interest rate cuts will help unlock money so it can be spent in the economy, Martins said.

The network has strengthened its senior team with new promotions and board appointments.

Conversely, demand for remortgaging is expected to increase as 1.8 million mortgages matured in 2025.

The average mortgage rate dropped by 39 basis points from the previous month to 4.35%.