When the clock struck midnight on January 1st 2025, it meant two things. For starters: it’s 2025 — and where has the time gone? And secondly, the new year marked 25 years since I took the plunge to work in the mortgage industry.
I initially started working in the world of mortgages straight out of uni, where I worked as an administrator for a mortgage broker for six months before I went travelling around the world for a year. When I returned, I got a job working for a mortgage company in London and moved to the big city which became my home — and it still is. I then started working for Halifax Bank of Scotland as an underwriter, before moving on to become a Relationship Manager at Halifax Premier. From there, I took the leap in 2017 into the world of self-employment.
Over the years, the mortgage industry has changed dramatically. From a stamp duty land tax relief to the return and departure of 99% mortgages. For many, I know that the world of mortgages can often seem confusing and convoluted. So with 2025 marking 25 years in the industry, I wanted to share some of my learnings.
In 2004 a new regulation act came in
Nowadays, the mortgage sector is a heavily regulated industry. And so it should be. Current regulation in place protects both borrowers and lenders from financial harm, especially during economic downturns.
But this wasn’t really the case until October 2004, when the Financial Services Authority’s (FSA) Mortgage Conduct of Business Sourcebook (MCOB) came into force, to help govern the conduct of firms involved in lending and selling regulated mortgage contracts. Up until then, lenders and advisers had to abide by the Mortgage Code.
After the 2008 financial crash, the FSA was replaced in 2013 by the Financial Conduct Authority (FCA) which has been a massive driver of change.
Today, getting a mortgage can take a lot of paperwork. For example, when trying to secure a mortgage, clients will have to fill out a 40-page fact-find. But all this upfront work is for the greater good, because the more information I have, the more personalised advice I can give.
There is nothing wrong with a bit of planning
No matter whether you’re PAYE, self-employed, a first timer buyer or remortgaging, when it comes to getting a mortgage, the proof is in the planning. And this hasn’t changed in my 25 years of working in the mortgage sector.
If you’ve ever applied for a mortgage before or bought a home, you’ll know that it takes pure grit, determination (and a whole lot of patience). But planning can make your life easier and your stress levels much (much) lower!
And this is the case whether you’re a few months, six months or a year away from being ready to buy. My best piece of advice would be to dive into our tips on how to get a mortgage or recommendations on how to get ahead of the game if you’re renting but planning to buy. It could also be worth casting your eye over our guide on the unseen costs of buying a home to make sure that when the time comes, you don’t get caught out. The same goes for how to save for a deposit, why you need to give some consideration to your credit score and finding out how much you can borrow sooner rather than later.
Don’t feel embarrassed if your mortgage knowledge is lacking
I often get a lot of first time buyers who apologise for how little they know on the subject of mortgages. But I’m always quick to point out that it doesn’t matter! Unlike Pythagoras’ theorem, algebra or the periodic table, mortgages aren’t something that’s on the school curriculum.
But that’s where a mortgage adviser can help. Along with offering you a supportive hand, we can debunk the jargon and help you find the most suitable mortgage for you.
Don’t always believe everything you read on the internet
Back in 2000, the world wide web was in its infancy. While January 1st, 1983 is considered the official birthday of the Internet, broadband didn’t arrive until the early 2000s, which allowed you to be online and make phone calls at the same time.
Fast forward 25 years and in 2025, there’s not much you can’t find out on the internet — including information about mortgages. But in all honesty, while it’s harmless to do your own research, no one-size mortgage fits all.
Therefore, to find out the full ins and outs I’d recommend speaking to a mortgage adviser who can give you personalised advice based on your personal circumstance.
Buying a home gives you security
The topic of buying vs renting and the benefits that come with home ownership is a topic that has gained traction. And it makes sense: saving a hefty deposit can take years, especially during a cost of living crisis where house prices are rising.
But in my 25 years in the industry, I believe one thing has remained true: buying your own home gives you a sense of security. I say this because you’re not at the mercy of a landlord who may wish to sell or move back into the property. Plus, when you get to retirement age, when you own a property the idea is that you will be mortgage free. This means you won’t have to pay rental costs from your pension.
I know for many getting onto the property ladder can feel like an uphill battle. But the good news is that there are many alternative ways to get onto the property ladder.
Having worked for a lender has helped me bridge the gap
As I touched on, I previously worked for Halifax Bank of Scotland then Halifax Premier before working for a small mortgage company and starting Mortgage Confidence.
I think my journey to get to where I am today has given me my USP — that being that I know what lenders are looking for and this has helped me ‘think like a lender’ as I can now bridge the gap between what the lender is looking for and what the client needs to show.
The mortgage world is looking…bright
All this talk about the past 25 years got me thinking about where the next 25 will take us. In my opinion, green mortgages are still in their infancy but I can see these types of mortgages — which essentially reward you for having an energy efficient home — playing a much bigger role in how the industry can help the the UK work towards its 2050 Net Zero aim.
I also think lenders will continue to roll out more and more mortgages that are specifically crafted for first time buyers in mind. Whether it’s low deposit mortgages of enhanced affordability criteria.
As I’ve learned over my decades’ in business, there are so many different needs and this can’t be met by one lender. So I think more smaller lenders are on the horizon just waiting to meet the needs of the minorities that have perhaps slipped through the net elsewhere.
Ready to dive in?
Six-time award-winning mortgage adviser Jo has 25 years’ experience in the industry. At Mortgage Confidence we offer a no obligation 30-minute consultation to help you find out how much you can borrow. So, to get the ball rolling, get in touch by emailing, calling or WhatsApp-ing Jo on 07742 228302.
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances, but we estimate it will be £399.
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