Adrian Moloney, group broking director at OSB Group, said the next year would bring “new opportunities and a fresh start for both brokers and borrowers”.
In the group's latest report, Moloney discusses what he expects to happen in the first three months of 2025. 
Themes include rising rate rolls, the first-time buyer (FTB) boom, and growing demand for expert guidance.
The report notes that 3 million households will face increased mortgage payments in the six months to December this year, with 400,000 homeowners seeing their payments increase by more than 50%.
“This is the largest wave of interest rate cuts in recent years, and we expect this to continue into early 2025,” Moloney said.
He believes early customer engagement will be “key” to understanding customer concerns and providing appropriate solutions.
He said: “While rising interest rates may initially discourage some buyers, brokers have the opportunity to guide customers through the transfer of products, and this has become an important aspect of the lending market. ” states.
“Assessing which clients are best suited for refinances and product transfers allows brokers to remain trusted advisors in an uncertain market.”
A key post-Budget development, due to come into force in early 2025, will see the end of stamp duty relief for FTBs.
Mr Moloney believes this could create a “complicated environment for people looking to start on the property ladder”.
He also noted that as the purchase market gains momentum, “delays could put pressure on the legal process and cause backlogs.”
Finally, Mr Moloney suggested that demand for expert guidance would increase, highlighting the “valuable role of brokers”.
“As the financial landscape becomes more complex, with changing regulations, an increasing number of products and changing economic conditions, the demand for tailored advice will only increase.”
