The Intermediary – October 2026 - Flipbook - Page 98
L O C A L FO C U S
Chichester
He says: “The high street lenders,
such as Halifax, NatWest and
Barclays, remain the backbone. For
buy-to-let and more specialist cases,
we use lenders such as The Mortgage
Lender, Landbay and Vida.
“For private clients and highervalue properties, which Chichester
has plenty of, private banks are
increasingly part of the conversation.”
Boxall similarly works across the
high street and specialist lending
markets. However, he is quick to
highlight the growing importance
of building societies in helping
borrowers access finance.
He explains: “Building societies
have become particularly important
because some offer greater flexibility
around affordability, including higher
income multiples or a more individual
approach to certain income profiles.
“That can make a significant
difference to borrowing capacity.
Two lenders can look at exactly
the same client and arrive at very
different figures.”
For Boxall, these differences in
underwriting criteria reinforce the
importance of advisers.
He adds: “That’s where the
intermediary adds real value –
knowing which lender’s criteria best
fit the client, rather than simply
finding the cheapest rate.”
Ongoing development
The continued development of new
housing and infrastructure remains a
significant feature of the local market,
with several major schemes expected
to expand Chichester’s housing stock
over the coming years.
Halsey points to the council’s Local
Plan to 2039, which identifies key
growth areas including Land West
of Chichester at Whitehouse Farm
and Tangmere, where Vistry has
secured approval for approximately
1,300 homes.
Parker also highlights the Tangmere
scheme, which will include 30%
affordable housing, a new primary
school and an expanded village centre.
She also notes Persimmon Homes’
plans for 165 properties off Madgwick
Lane, supported by almost £2m in
local infrastructure contributions,
including £640,000 towards
improvements to the A27.
Meanwhile, the Southern Gateway
project aims to regenerate a 30-acre
brownfield site near Chichester
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The Intermediary | October 2026
Steady demand
JAMIE BOXALL
bridging, development and commercial finance adviser
at Hearthstone Finance
’d describe the current market as steady but selective. ere is still
good demand from buyers, but affordability remains the key
consideration, particularly given Chichester’s relatively high
property values. Clients are still moving and buying, but they’re
much more focused on the overall cost of borrowing and how the
mortgage fits into their wider finances.
We’re seeing some of the pent-up demand from buyers who held back
during the higher-rate environment coming back into the market.
First-time buyers remain very affordability-driven, while existing
homeowners are o en benefiting from equity built up in their
properties. ere’s definitely a feeling that people are getting on with
their plans rather than waiting indefinitely for rates to fall.
Affordability is arguably more important than the headline rate at the
moment. Clients want to know how much they can borrow and what the
monthly payment will be. at makes lender criteria increasingly
important. ere is also increasing demand for longer mortgage terms,
as well as more clients with complex income or circumstances seeking
advice earlier in the process.
I deal with everything from the major high-street lenders –
Nationwide, Halifax, Santander, NatWest, Barclays and HSBC – through
to building societies and specialist lenders.
I think building societies have become particularly important because
some offer greater flexibility around affordability, including higher
income multiples or a more individual approach. at can make a
significant difference to borrowing capacity. Two lenders can look at
exactly the same client and arrive at very different figures.
My client base is broad, covering first-time buyers and home movers
alongside landlords, developers, investors and clients with more
complex circumstances.
Over the past year, I’ve noticed clients becoming much more
sophisticated. ey’re asking more questions about affordability, lender
criteria, tax, flexibility and how the mortgage fits into their longer-term
plans. I’m also seeing more people turn to brokers because they realise
their circumstances don’t necessarily fit the standard high-street model.
I
railway station, creating a new mixeduse quarter south of the city centre.
For Halsey, the scale of planned
development in the region presents
an opportunity to improve access
to homeownership.
He adds: “That will bring more newbuild stock and more choice for firsttime buyers in particular. This is even
more important with a new scheme to
help first time buyers expected in the
upcoming Budget.”
Boxall is similarly positive about
the pipeline of development, although
he emphasises that increasing
supply alone will not resolve the
numerous challenges currently facing
prospective buyers.
He says: “From a mortgage
perspective, new housing creates
opportunities across the board – from
first-time buyers and families through
to investors and developers.
“The challenge remains
affordability, so ensuring new housing
caters for a broad range of buyers will
be important.”
Rental market
While Chichester’s development
pipeline may be strong, its rental
market continues to face pressure
from strong tenant demand paired
with limited available stock.
According to the ONS, average
monthly rents in the region reached
