The Intermediary – July 2025 - Flipbook - Page 80
L O C A L FO C U S
Swansea
Expert advice needed
ANDREW BLUNDELL
mortgage and protection adviser at Just Mortgages
t the moment the housing market seems strong, with lots of
customers going to market and achieving sales quickly. Enquiry
levels are strong as we draw into what is oen the busiest part
of the year for brokers for purchase applications.
Purchase activity seems strong at the moment, with a lot of customers
prioritising getting their house onto the market and sold, so that they
can be in their new home by Christmas. With so many coming to the end
of low priced fixed rates during 2025, there has been and still is a huge
opportunity for brokers to help customers whose rates and outgoings
are going to change considerably. First-time buyer activity is also strong
– historically a customer base that really benefits from dealing with an
experienced broker.
Main challenges for brokers this year will still be assisting customers
who have low fixed rates ending and who are going to see a huge change
in their mortgage commitment as a result of moving onto a new fixed
rate. In addition, helping customers purchase in their sole name is an
ongoing challenge due to high house prices.
Banks do seem to be making efforts to aid affordability and improve
customers abilities to borrow the loan amounts necessary. First-time
buyer schemes with enhanced affordability offerings have become
offered by more providers as the year has progressed, and we’re
continuing to see the emergence of more low deposit mortgages, and
even the recent launch of 100% mortgages from April Mortgages.
A
Most borrowers are rate-savvy and
tend to respond quickly to downward
trends in interest rates.”
According to Sturgess, “clients are
far more rate-sensitive now and want
the flexibility to review their mortgage
within two to three years.” He also
highlights a rise in gied deposits,
with more families stepping in to help
younger buyers.
A varied yet increasingly defined
borrower base is taking shape across
the region. With an average resident
age of 43.4 years and steady population
growth over the past two decades,
Swansea offers a diverse client base.
However, first-time buyers remain the
dominant force.
Sturgess says: “Our core
demographic is still made up of
first-time buyers and young families,
[bolstered by] second steppers – people
who bought small in 2020–2021 and
are now upsizing.”
Jones says “first-time buyers
continue to lead in terms of the
number of applications over the past
year,” averaging around age 34.
80
The Intermediary | July 2025
He adds: “There’s nothing quite like
seeing their excitement when they
finally collect the keys to their first
home. While most clients have saved
the bulk of their deposit themselves,
it’s common for the ‘Bank of Mum
and Dad’ to step in by topping up the
shortfall or, in some cases, providing
the full deposit.”
Beyond younger buyers, Swansea’s
appeal is broadening. Sturgess reports
a noticeable increase in “professional
clients relocating from Cardiff or
Bristol, who are choosing Swansea
for lifestyle and affordability,” while
others seek help with porting existing
mortgages or consolidating debts.
For brokers, this diverse mix brings
both opportunity and complexity. As
Blundell points out, first-time buyers
in particular “really benefit from
dealing with an experienced broker,”
as do those now facing the end of
historically low fixed-rate deals.
Popular lenders
When it comes to lender preferences
in Swansea, a handful of names
consistently stand out. Nationwide
appears across the board as a go-to
choice, praised for both its product
range and service standards.
“Our top three lenders are
Nationwide, Halifax and NatWest,”
says Davies, adding that “they all
have their good and bad points when
it comes to criteria,” but remain
popular due to their broad appeal and
consistent delivery.
Sturgess also highlights Principality
Building Society, Santander, and
NatWest, particularly when it comes
to turnaround times and customer
service. For more complex or specialist
cases, he notes that The West Brom
and Skipton Building Society have also
been “really strong.”
HSBC joins the list of top-tier
lenders in the region, especially for
mainstream residential cases.
Jones notes: “Nationwide and HSBC
consistently deliver excellent service
and competitive product offerings for
our clients.”
Swansea Building Society
is widely respected across the
advisory community for its bespoke
underwriting and personal touch.
Jones says: “They’re willing to
discuss most cases individually and
can consider applications that fall just
outside standard criteria, provided
there’s a sound rationale for lending.”
He adds that the lender is “respected
by both brokers and clients,” not only
for its flexible approach but also for its
deep community roots and charitable
efforts. Swansea Building Society
remains a trusted option “for bespoke
or complex mortgage needs.”
New developments
Swansea’s housing landscape is
being steadily reshaped by a mix of
ambitious regeneration projects and
a robust pipeline of new residential
developments. The average price of a
newly built property in the area now
stands at £292,000 – down 1% yearon-year – with the majority of sales
occurring in the £200,000 to £300,000
range. SA16 0 has seen the highest
concentration of new home sales.
Jones says: “Swansea always seems
to have a new-build development
underway, which is an encouraging
sign of steady growth. One of the
most consistently active areas is
SA1, close to the waterfront, where
ongoing projects include new houses,
apartments, and social housing.”
