"The Bank of England failed to act quickly enough last year."

Graham Beresford, co-founder and MD at Finspace:

Increasing interest rates frequently and tamely has forced lenders to raise their rates.

This leads to pulling rates and specialist products, causing additional pain for borrowers and the mortgage market constantly over-correcting.

I hope that there are some temporary measures put in place for borrowers in terms of relaxed payment plans (paying off just the interest, increased payment holidays and other such measures as I see inflationary pressure as a short-term issue.

This will lead the way for more demand for shorter-term products and additional secured borrowing where people have enough equity.