As if a global pandemic wasn’t enough to unsettle the global population. Now, as Russia continues to invade Ukraine, it seems that we need to be braced for further global uncertainty. Perhaps 2022 won’t be all we hoped it would be after all. But back to mortgages and the headline of this article – the answer for which, in our view, is quite quickly. 

Ukraine is, without doubt, denting public confidence. However, there is enough going on closer to home to make applying for a mortgage more challenging than it was even a few months ago. Interest rates have risen twice in a short period of time. Inflation continues to bite as the cost of living shoots up. And to top it all off, house prices continue to rise, with growth hitting 12.6% in February*.

All these things conspire to make getting a mortgage in 2022 harder than it was in 2021 (maybe even the hardest it has been since 2008). In fact, if we take a step back and look at it objectively, it seems that we have a perfect storm.

As a Guildford mortgage broker, we’re regularly being asked the following three questions:

1. Will the Ukraine conflict affect my mortgage?

2. Does inflation make it harder to get a mortgage?

3. Are the UK’s best mortgage deals being pulled?

Sadly, the answer to all three questions is yes – but to varying degrees.

With regards to question 1 it’s possibly too early to say, but global instability can make financial institutions more jittery. On question 2, if what you earn is worth less in real terms, then this will impact lenders’ mortgage affordability assessments. When it comes to question 3, the honest answer is that there aren’t as many compared with this time last year – but cheap mortgage deals are still available. So, there we have a number of obstacles. But what about the solution?

Even when you don’t have everything listed above going on, applying for a mortgage can be a finely tuned balancing act. Add everything referenced here and there’s much more to consider. And this is where the benefits of using a mortgage broker become clear.

Mortgage brokers are effectively experts in putting together the best case for their clients, which is a subtle skill that those applying for a mortgage without a mortgage broker may not necessarily hold. More importantly, a good mortgage broker will have access to a wide panel of mortgage lenders and therefore a wider pool of the UK’s most competitive mortgage deals. If you’re about to apply for a mortgage then we would recommend that you use a mortgage broker – simply to give yourself the best chance of getting a mortgage in 2022.

It would be disingenuous to offer mortgage predictions for 2022 given how things are changing so quickly on a daily basis. What we can see right now, though, is that the mortgage landscape is becoming less competitive. So, based on what’s happening now, our advice to those looking to get a mortgage is to not only apply as soon as possible, but also use a mortgage broker when you do.

If you’re looking for a mortgage broker in Guildford and the surrounding areas, or if you would like to get good mortgage advice, contact our team of Guildford mortgage advisers on 01483 238280 or e-mail

*Nationwide House Price Index