When discussing the series of pricing cuts made across the board by many mainstream lenders recently, the consensus appeared to be that this was unsustainable. Louisa Sedgwick of Leeds Building Society said: “The price war won’t continue forever; there is likely to be a jockeying for position throughout the rest of the year however we’ll see some rate rises at the start of next year. I don’t see it [ongoing price cuts] lasting beyond this year.”

Members of the panel were also unanimous in their contention that Bank Base Rate would rise in 2016 and this would clearly impact on mortgage pricing.

“I expect to see a small 0.1% increase in BBR at the start of next year,” said Roger Morris of Precise Mortgages. “However I think there will be a sustained low interest rate for many years to come – I expect it to only have reached 2% by 2020.”

Ian Andrews of Nationwide Building Society felt the increase would be larger. “We anticipate a 0.25% rise in Q1 2016 and possibly another rise at the end of the 2016,” he said. “I think it will be sensibly planned.”

Pat Bunton of London & Country highlighted how comments made by the Governor of the Bank of England, Mark Carney, had had a positive impact for the broker community especially when he signalled a BBR rise sooner rather than later. “[A rise] is a big opportunity for the intermediary community,” he said. “Carney’s comments earlier in the summer brought about an increase in remortgage action and the normal August dip didn’t happen.”