Bank of England data show net mortgage borrowing fell to £3.9bn in September, while house-purchase approvals declined to 53,400, around 19% lower year-on-year. At the same time, brokers report more clients selecting shorter fixed terms or extending mortgage repayment periods to manage affordability.
For advisers, this is a market for proactive remortgage engagement rather than rate predictions alone. AI-supported client segmentation can help identify customers nearing product maturity, model the payment effects of term extensions and shorter fixes, and prioritise cases where a delay could result in a costly move to the lender’s standard variable rate.
- Validate all AI-generated illustrations against lender sourcing and suitability records.
- Explain the total-cost and later-life implications of longer terms, not just the lower monthly payment.
- Build early-contact workflows to reduce conveyancing and paperwork delays.