ADVERTORIAL
A GUIDE FOR OFFICERS AND STAFF By Henry Wright, Quick Mortgages
THE MORTGAGE MARKET IN 2025:
After a few years of financial ups and downs, the outlook for the housing and mortgage market is starting to settle. But for those in the police community thinking about buying, remortgaging, or making that next move, the big question remains: is now a good time? We’ve pulled together the key
insights to help you make an informed decision, whether you’re a first-time buyer, moving up the ladder, or simply coming to the end of a fixed deal
fewer than three months’ payslips and currently in training, a PC clocking up regular overtime, or a detective whose allowances vary month to month, we know which lenders are flexible and which aren’t. Some lenders will take into account:
• Overtime and weekend enhancements, even if not guaranteed
• South East Allowance, rent/housing supplements, and London Weighting
• Second jobs or additional income streams, with the right documentation
or Location Allowance (especially relevant across metropolitan and outer-London forces)
• Future career progression when assessing long-term affordability
henry@quickmortgages.com Henry Wright
INTEREST RATES: PAST THE PEAK? The Bank of England’s base rate is currently 4.25 per cent, down slightly from its peak last year. It rose rapidly from 2021 to 2023 in response to high inflation, causing a big jump in mortgage costs for many. But with inflation now under control, the tide is turning. Most economists expect further small
cuts over the rest of 2025, possibly bringing the base rate down to 3.5 per cent by early next year. That’s still well above the rock-bottom levels we saw in
38 | POLICE | JUNE | 2025
the 2010s, but it’s a meaningful shift for borrowers. In simple terms, the worst of the rate shock appears to be behind us. New fixed rates are already falling, and competition among lenders is helping to bring down monthly payments for those locking in now.
TAILORED FOR THE POLICE: WHAT LENDERS (AND WE) UNDERSTAND One of the biggest advantages of working with a broker who specialises in the police sector is knowing how your income is structured — and how to present it properly to mortgage lenders. Whether you’re a new starter with
• Tailored underwriting criteria for those in public service
In short, we don’t just understand mortgages — we understand police pay structures and how to position your application for the best possible result.
HOUSE PRICES AND ACTIVITY: A CALMER, MORE BUYER-FRIENDLY MARKET After the dizzying highs of the pandemic years, the housing market has eased into a much more stable rhythm. Prices dipped slightly in 2023 but held up better than expected, and by 2025, they’re rising again, slowly and steadily, at around 3 to 5 per cent per year. That’s broadly in line with wage growth, helping
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