The Intermediary –- May 2026 - Flipbook - Page 102
L O C A L FO C U S
Wakefield
She explains: “Our key client
demographic currently includes
self-employed applicants, ranging
from sole traders to limited company
directors with only one year’s accounts
available.”
Forbes highlights strong levels
of remortgage activity involving
debt consolidation, and increasing
numbers of clients with previous
credit issues. Advisers are also seeing
“growing demand for rate switches
and borrowers choosing to stay with
their existing lenders,” while many
households are opting to improve or
extend their homes.
Popular lenders
Brokers emphasise flexibility and
suitability over loyalty to any single
provider. Colley says Halifax and
Nationwide remain among the most
commonly used residential lenders
locally, while Forbes notes a number
of regional and specialist-focused
building societies remain particularly
active in the local market – Newcastle
Building Society, Accord, Skipton
Building Society, Kensington and
Coventry Building Society for their
willingness to accommodate more
nuanced cases.
Steady demand
JOSHUA COLLEY
director and mortgage and protection adviser
at Trust Financial Solutions Ltd
he mortgage market in Wakefield and the surrounding WF
postcodes, known locally as Wakefield and e Five Towns, is
buoyant with a fair amount of activity.
Appetite for residential mortgages has been steady, but
nothing like we have seen in previous years. I would say remortgages are
more in demand than purchases.
People are considering whether to move or not, mainly wanting extra
space rather than relocating for a move in area. However, the extra costs
of gaining such a small amount of space is sometimes putting a lot of
people off. ere’s a lot of new-build properties that have been
purchased over the last 10 years, with many people considering if they
are in a position to repay their help to buy equity loans or not.
We serve all types of clients. ere are lots of landlords in the WF area
but it’s also a great area for first-time buyers with great connectivity and
lower purchase prices; you get great value for money.
Wakefield City Centre is undergoing redevelopment with the recent
council purchase of the Ridings Shopping Centre, building up to 1,000
new homes. ere are also new build developments all over the
Wakefield postcode area. e recent development of City Fields has
added thousands of new homes to the area.
e BTL market is huge due to the proximity of Leeds and Sheffield.
ere’s a mix of local and out of area investors looking to capitalise on
low property values and high rents compared to Leeds or Sheffield.
T
New developments
New-build values across Wakefield
continue to outperform the wider
market, with newly constructed
homes averaging £288,000 across
the postcode area, compared with
£217,000 for established properties.
Prices for new homes have risen
by £12,300, or 4%, over the past 12
months, and a total of 186 new-build
transactions were recorded during
the period, with activity concentrated
primarily in the £300,000 to £400,000
bracket, followed closely by the
£250,000 to £300,000 range.
For brokers locally, buyer appetite
for new-build property remains
evident. Colley notes: “There’s a lot of
new build properties within Wakefield
that have been purchased over the last
10 years with many people considering
if they are in a position to repay their
help to buy equity loans or not.”
One of the most significant projects
remains the large-scale City Fields
development to the north east of
Wakefield city centre. Senior explains:
“A very large development known
as City Fields is ongoing to the north
east of the city centre. This has
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The Intermediary | May 2026
Cautious buyers
KEELEY HANDLOVICS
mortgage broker at KH Mortgages
he market is moving at a steady pace; the volatile market has
not put my clients off from achieving their goals of moving or
purchasing their new home. I do feel clients need a deeper
conversation about interest rates than ever before, so that they
understand what they are locking in at and for how long.
is time of year is always quite high for people moving house or
buying a new home. I have been busier than usual, and this has been
new business, not just my existing clients. e job has become harder as
we are constantly chasing rate reductions for every client.
I’m dealing with more people that have found themselves with either
arrears or defaults from no fault of their own, mainly down to things
beyond their control. ese clients need an extra level of support to
make them feel comfortable in what they are buying into.
Anyone buying a house, whether a first-time buyer, home mover, or
remortgage I’m excited to help them. Every challenge along the way is a
learning curve and overcoming them with minimal fuss is the best part.
My existing buy-to-let clients are not gaining the return they
expected, and a lot of them have worries about the new Renters’ Rights
Act. is is a growing concern for a lot of investors.
T
