The Intermediary – July 2026 - Flipbook - Page 93
L O C A L FO C U S
Bedford
The Universal effect
DARRYL DHOFFER
managing director at The Mortgage Geezer
JESSICA O’CONNOR
is deputy editor
at The Intermediary
stresses that affordability remains the
defining factor for buyers.
She explains: “Appetite has not
disappeared by any stretch, but it
has become more considered. People
are very much still looking to buy,
but they are testing the monthly
payment, mortgage fees and their
wider household budget much more
carefully before making an offer.”
For Paul Dean, director and
principal adviser at PD Finance, the
town has demonstrated resilience
despite wider economic headwinds.
He says: “The Bedford market has
remained relatively resilient since the
start of the year. Naturally, we haven’t
been immune, like every UK region,
to the volatility triggered by the
conflict in the Middle East.
“Borrowing costs have eased
somewhat since, and it’s been a
welcome relief to see more competitive
pricing return to Bedford and the
wider market, though rates remain
above pre-conflict levels.”
Barbara O’Brien, mortgage and
protection adviser at Just Mortgages,
is also seeing conditions gradually
improve. She notes that “fixed rates
are starting to come down slowly” and
that some lenders have introduced
sub-5% deposit schemes for firsttime buyers, helping to support
demand despite the seasonally quieter
summer period.
Client demographics
Bedford continues to aract a
broad range of borrowers, with its
comparatively competitive pricing
supporting demand. Advisers also
report that borrower profiles are
becoming increasingly diverse,
requiring more tailored lending
solutions than in previous years.
For Dhoffer, FTBs and upsizers
remain the cornerstone of the →
he Bedford market is currently moving at a good pace,
outperforming much of the wider region. While sales volumes
across the UK have been generally subdued, local demand has
remained remarkably resilient. It’s a highly competitive market
where buyers who are fully pre-approved and proceedable hold all the
cards. Now that fixed-rate mortgages seem to be stabilising, buyers
have found their confidence again.
e desire to get onto the ladder or move up it hasn’t waned, but the
way applicants are approaching affordability has changed. Borrowers
are sharp, they aren’t guessing numbers anymore. ey want to know
exactly what their buying power looks like before they start viewing.
Development is the single biggest talking point in the region right
now. e official approval of the Universal United Kingdom Resort near
Stewartby is an absolute gamechanger.
On top of the estimated 20,000 construction jobs and 8,000
operational roles, the project is fast-tracking massive local
infrastructure upgrades, including the expansion of Wixams railway
station, direct slip roads off the A421, and regional grid upgrades. Areas
like Stewartby, Kempston, Wixams, and Wootton are suddenly right in
the spotlight for long-term growth.
Investors are looking closely at Bedford’s strong rental yields (with
average rents hitting £1,168) and combining that with the “Universal
Effect.” Savvy landlords realise that the multi-year construction phase
will create huge demand for contractor accommodation, followed by a
permanent influx of workers.
T
First-time buyer opportunity
BARBARA O’BRIEN
mortgage and protection adviser at Just Mortgages
ouse prices seem to be stable. New stock on the housing
market seems to have slowed but that is expected at this time
of year as many sellers are waiting for school holidays to be
over before getting ready to sell. We normally see more
houses coming on in September as people want to sell and be in their
new homes for Christmas.
We are seeing first-time buyers starting to look and offer as they are
taking advantage of fixed rates which are being lowered by many
lenders. Some lenders have introduced sub 5% deposit schemes for firsttime buyers which are popular.
Remortgage market remains strong. We are now seeing the low 5-year
rates during Covid rates coming to an end on both residential and
buy-to-let mortgages.
However, confidence in the market remains one of the biggest
challenges. Bank of England base rate was predicted to be around 3% by
the end of the year before the middle east conflict. Although the
Monetary Policy Committee (MPC) has kept it the same at 3.75%, some
buyers aren’t confident that this will not increase so are holding tight.
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July 2026 | The Intermediary
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