June is here and, looking back over May, it really was a month of two parts.
We started with optimism aplenty. Bank of England (BoE) figures showed a rise in mortgage approvals, and the number of products on the market was at the highest level for a year.
Flash forward a couple of weeks and new BoE figures show approvals are back down, the number of mortgages in the market has dropped considerably and rates are up because swaps are all over the place.
By the time this magazine is on desks, we may be back to where we started! That stable, calm market we all asked for doesn’t promise to be on the horizon anytime soon.
The genuine camaraderie and support of one another are what keep us here
Anyway… we just have to ride it out, I guess. At least the sun is shining and hopefully you have some holidays lined up soon.
We have a jam-packed mag this month. In our cover feature, we look at the pros and cons of the 100% mortgage; there are mixed thoughts on whether this is right for the market at present, but in my humble opinion it is needed.
Our second feature is a really interesting read on how we can attract more talent to the market, and on the education that is needed to promote understanding of why this really is a great industry.
In addition, of course, following the fantastic Mortgage Strategy Awards on 25 May, our awards spread unveils all of the winners on the night along with some photo and Twitter highlights.
That stable, calm market we all asked for doesn’t promise to be on the horizon anytime soon
Thank you to everyone who entered this year, took the time out to be a judge or attended on the night. The event really is about all of you and celebrating this wonderful industry. And, of course, hats off to the winners!
To echo my speech on the night, although most of us say we fell into mortgages, in many ways we landed on our feet because of the fantastic community of individuals who also found themselves here.
The genuine camaraderie and support of one another are what keep us here, and what should continue to draw good people to the market.
This article featured in the June 2023 edition of MS.
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