www . simplybizmortgages . co . uk 19
2021 : Getting back to normal ?
2020 was definitely a year to put behind us . 2021 has brought vaccination rollouts and boosters allowing us to begin to get back on track with our lives . The government support and initiatives for the housing market meant a busy time for all in the mortgage market and I hope you had a well-earned staycation or holiday abroad – traffic lights allowing .
Stamp Duty Deadlines
The government initiatives had the desired effect and provided mortgage activity for brokers and lenders alike , but provided a couple of stamp duty cliff-edges which provided a challenge for all of us . Both periods
As we enter a new year and I show my age by proclaiming ‘ the year has flown by ?!’ I thought I ’ d have a brief review of 2021 before starting to tackle the challenges that next year may bring .
Derek Adams
Key Relationship Manager Skipton Building Society for Intermediaries
saw Skipton break our records for the most completions in a month and just as importantly , no reports of removal vans waiting outside homes . We even had examples of our Completions Team contacting solicitors to see if there was anything we could do to help to ensure no Certificate of Title ( COT ) was left behind .
I think it is something that the mortgage market can be proud of , with no ‘ bad news ’ stories during this period as brokers , clubs and lenders worked together to come up with the solutions needed for the challenges faced .
Summer Festival of Learning
We supported SimplyBiz Mortgages Summer Festival , albeit still virtually and we hope that provided some value . On the Building Society day , we shared our aspiration to be a Top 10 lender by continuing to invest in technology but ensuring we maintain our human touch . Getting that balance right will be vital in helping us remain relevant in the market and be a lender of choice for you through SimplyBiz Mortgages .
As our Business Development Team start to get back to meeting face-to-face , we will develop the ‘ hybrid ’ role – providing the support you need whether that is back in your offices or via Teams / Zoom .
In 2021 , we launched ‘ Skipton Talks ’, a weekly 30-minute national webinar providing insight on a range of issues affecting the mortgage market . We ’ ve had feedback that brokers like the short / sharp sessions and if you haven ’ t seen these , they are all recorded and available to watch on demand on our website .
2021 Performance
As things got back to some sort of normality this year , we made a number of enhancements to our lending proposition . We were one of the first mainstream lenders to go to 95 % for New Build houses and we have relaxed a number of policy restrictions we had in place during lockdown . We also continue with our common-sense approach to the self-employed who took government support and employed clients with additional income .
We all know that in financial services , each year will bring its own challenges , however this year has shown that the mortgage market will continue to innovate and adapt to meet these . We value the relationship with SimplyBiz Mortgages as this allows us to better understand what you need from us as a lender .
At the time of writing , the value of Simply- Biz Mortgage applications is up 30 % from this time last year – we thank you for your support in 2021 and look forward to working with you in 2022 .
I will resist the temptation of making predictions – but one thing is for sure in the intermediary world , things are never ‘ normal ’.
The views expressed here are Derek ’ s own .