The rapid evolution of technology, particularly in artificial intelligence, is reshaping the UK mortgage market in many ways. Mortgage advisers need to be at the forefront of this transformation, and understanding these changes is crucial for staying competitive. Over the next few years, the integration of AI-driven tools and advanced digital platforms will not only streamline processes but also revolutionise how advisers interact with their clients.

Once upon a time, Mr and Miss Typical met, got married, bought a starter house with a mortgage from the local building society based on Mr’s income from his job-for-life, and had 2.4 children. They moved up the housing ladder two or three times, paid off the mortgage after 25 years, and retired 10 years later on a final salary pension.

Product transfers (PTs) have dominated the mortgage refinance landscape in recent years as higher and rising interest rates made affordability calculations more challenging. As straightforward PTs do not require an affordability check they became the default choice for many borrowers reaching the end of their fixed term mortgage and needing a new deal.

So, this is almost Christmas, and what have we done?