Perhaps it is good to have a correction – it makes lending criteria fairer and more manageable, and I can guarantee from here on out that lenders will not be looking at the quantity of deals, but the quality.
Building ongoing relationships with intermediaries should be a key focus for lenders, and if this lesson is learnt as a result of the current conditions, then the market will be a better place for it. Perhaps Christmas is coming at the right time, and people will come back in the New Year with a renewed focus and long-term commitment to the market, rather than seeking the quick buck which has seemed to dominate some lender strategies over the past 12 months.
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