Each week, the editorial team of Mortgage Solutions will select our highlights of the last seven days in our editor’s picks.
First off was a prediction made by EY Item Club, suggesting mortgage lending in the UK would return to growth this year after a period of contraction. The firm said this would be due to lower mortgage rates and result in further growth over the next three years.
EY Item Club also suggested the UK economy would strengthen over the same period.
Next was this month’s Diversity and Inclusivity Finance Forum (DIFF) podcast, featuring Sarah Tucker, CEO of The Mortgage Mum. In this episode, she spoke about returning to work after having a baby as well as the insecurities that sometimes come with career progression.
Then came the news that Metro Bank returned to profitability in October, following periods of losses requiring the bank to focus on cost reduction strategies. This turnaround in Metro Bank’s performance also comes less than a year after its shareholders agreed a rescue deal to inject £925m capital into the business.
Mortgage Solutions also spoke with Andrew Arwas, managing director of ModaMortgages, where he discussed the new buy-to-let (BTL) lender’s plans for expansion and strategy for the specialist lending sector.
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Lastly was the story that the average home cost four times the typical joint earnings, despite recent income growth. The data from Zoopla found that although housing affordability had improved in Southern England, it was still one of the more expensive regions to become a homeowner.
Mortgage lending to return to growth this year – EY Item Club
DIFF podcast: There will be a new ‘devil’ waiting for you at every life achievement – Tucker
