So this is Christmas – and what have you done?

A lot of challenging and sometimes thankless work, it seems.

As I sat down to write my final leader of the year, it wasn’t my intention to begin on a downcast note. But some recent comments from brokers have given me fresh insight into the struggles 2023 delivered for their businesses.

And it’s not the first year in recent times that has thrown up unpredictable challenges for the mortgage market. Since 2020, the industry has had to overcome one thing after the other.

Since 2020, the industry has had to overcome one thing after the other

But you have made it through yet another tough year, which brought with it the Consumer Duty, a cost-of-living crisis, many base-rate rises and a Budget that offered little relief for the market, though you could call that a highlight compared to the major fudge-up with last year’s Mini-Budget!

When reflecting on why you are in this often-tiresome market, remember the ultimate purpose of your job: to help people to buy or stay in their home, or grow their business and be more successful. While you may not always get the thanks you deserve, take heart in the fact that what you do makes a difference.

Hopefully, you will get the chance to fully switch off from work over the holiday period, other than making your way through our hefty print issue of Mortgage Strategy, of course!

The edition includes a bumper four features on topical subjects: the value of BDMs, first-time buyers, the second charge market and the importance of protection.

Some recent comments from brokers have given me fresh insight into the struggles 2023 delivered for their businesses

We also look at the areas of buy-to-let, commercial, technology and housing supply in our regular watch columns, so there’s plenty to get stuck in to as you sip your Baileys and open another tin (plastic tub!) of Quality Street.

Just as I began to write this piece, the news broke that Shane McGowan of the Pogues had passed away.

So, as I wish you all a wonderful festive period and the best of everything for 2024, it seems fitting to finish with lyrics from what I believe is the best Christmas song of all: “I can see a better time, when all our dreams come true.”

This article featured in the December 2023/January 2024 edition of MS.

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