Yep, it’s March already. While January lags, February is here and gone in the blink of an eye and the year is no longer new.
There’s a ‘grand stretch in the evenings’ and that feeling of starting anew that comes with the arrival of spring.
But there are challenges aplenty in the mortgage industry, some of which aren’t so new. As lenders up their mortgage rates, following a downward trend earlier in the year, brokers are again facing a lack of notice on product withdrawals.
The support is there and colleagues genuinely do want to help
In a volatile swaps market, it’s understandable that lenders are unable to consistently provide days of notice. But pulling products with less than 24 hours’ warning is causing brokers a world of stress. So lenders, please do what you can to take some of the pressure off intermediaries’ shoulders.
Speaking of pressure, this month’s cover feature by Leah Milner on mental health in the mortgage industry is a must-read. While the topic is gaining increased attention, the reality is the high-pressure environment, long hours and lack of work/life balance, job insecurity and sense of responsibility many face are not easing off. They are taking a big toll on people’s mental health and causing some to close the door on their career in the mortgage market.
One thing that’s clear is that stress breeds stress in all areas of life. So, if we all take a step back and consider how we interact with others, as well as the pressure we put on them and on ourselves, the job will still get done but we may all have fewer new grey hairs at the end of the day.
Lenders, please do what you can to take some of the pressure off intermediaries’ shoulders
The good news, and what keeps so many of us in the industry, is the people within it. The support is there and colleagues genuinely do want to help.
In a LinkedIn post I read today, a well-known and well-liked industry veteran revealed that he had been forced to close his business recently, despite having survived both the credit crunch and the pandemic.
He has put himself out there, searching for new opportunities, and you know that he will be looked after by the wonderful mortgage community.
After all, you get what you give.
Brokers are again facing a lack of notice on product withdrawals
In a few short weeks we will all come together to celebrate this industry at the Mortgage Strategy Awards and it promises to be a great night. Tables are selling fast so, if you are looking to attend, get in now before our early-bird offer ends this month.
In the meantime, enjoy another cracking read in this month’s edition and thank you as always for all your support in keeping our print magazine running.
This article featured in the March 2024 edition of MS.
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