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Mortgage applicants in a market review muddle

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SEVENTY-EIGHT-PER-CENT of those looking to buy a house in Wales in the year do not know what the Government’s Mortgage Market Review (MMR) is, or how it may affect them, according to a report commissioned by Experian, the global information services company.

 

The study also finds that nationally, of those that have heard of the MRR:

 

• 43% think the introduction of the MMR means they can apply with smaller deposits  –  when larger deposits to make mortgage repayments more manageable, are likely to be needed; and

• 19% believe lenders will have relaxed their lending criteria after April 26 2014 – when affordability checks will in fact become much more stringent

 

The MMR, which aims to make mortgage lending more responsible and stable was introduced on April 26. However, it does mean that those hoping to borrow to purchase a property will need to show they have considered how they will be able to manage their repayments now and into the future should interest rates rise.

With more than 10% of Britons surveyed saying that they plan to buy a property this year, Experian has launched a dedicated online resource Mortgage Matters, www.experian.co.uk/mortgages, which contains lots of guides, articles and videos to help people make their property dreams a reality. Experian and This Is Money are also giving people the chance to win a £20,000 deposit to help make these property dreams a reality!*

Peter Turner, Managing Director, Experian Consumer Services, UK & Ireland, said: “It is clear that many aspiring homeowners are in a great muddle about the MMR and many more are unaware of the amount of preparation that should be invested in getting your finances and credit history in order before you make any mortgage application. The Mortgage Matters website was designed to help people navigate the mortgage application journey and this amazing prize could really help make a dream come true for one first time buyer.”

For those who have dreams of owning a home, in order to stand the best chance of securing a mortgage – and to get one with the best interest rate – homebuyers need to get their finances in the best possible shape. However, it appears very few potential buyers are doing that.

A fifth (19%) don’t plan on preparing their finances before their mortgage application, while another fifth (18%) only plan on preparing a month prior to their application. Moreover, fewer than one in four (23%) have checked their credit score in the last six months, which would help provide a clear picture of their financial situation and how they are likely to be viewed by lenders.

 

Of those looking to buy a property:

 

• Only a fifth plan to make a clear six-month budget;

• A quarter (26%) plan to clear outstanding debt;

• A further 15% plan to pay down any outstanding credit;

• Only a third plan on cutting back on luxuries in the lead up to their application.

 

Peter Turner continued: “Time spent preparing your finances now will pay dividends in the future. We’d advise potential homebuyers to look at their financial situation as soon as they make the decision to look for a home, and not just before they apply for a mortgage. This will give you the chance to make any improvements necessary and get accepted – and at the best rates, too.

Here are some simple tips from Experian CreditExpert to help you prepare for a mortgage application after the Mortgage Market Review:

1. Know your budget. As soon as you decide to look for a property, scrutinise your last few months’ outgoings carefully to understand your spending habits. Are there things you could do without to finish each month with cash in the bank?

2. Know what you can really afford. Visit a broker or use an online mortgage calculator to work out your likely repayments. Importantly, play with the interest rate settings to see if you could afford repayments if rates rise by 1%, 2% or more.

3. Make sure your credit report is up to date. As well as checking your outgoings, you should also check your credit report, which includes a record of all your borrowing over the last six years. Ensure everything is accurate and up-to-date.

4. Does your Experian Credit Score need work? The Experian Credit Score is a guide to help you understand how a lender might score your credit worthiness. If it’s lower than you expected, ask the experts for help and ensure your credit report paints the best picture possible before you make your application.

5. Build good behaviours. Finally, from now until your application, try to appear like an ideal mortgage borrower. Show you can make it through several months with a slight surplus. Don’t take out additional borrowing and try to demonstrate you can comfortably manage any outstanding credit commitments you have.

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Community

Craig Flannery appointed as new Chief Fire Officer

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MID AND WEST WALES FIRE SERVICE LEADERSHIP CHANGE

MID and West Wales Fire and Rescue Service has announced the appointment of Craig Flannery as its new Chief Fire Officer, with effect from Monday, December 15, 2025.

Mr Flannery has served with the Service for more than twenty years, progressing through a wide range of middle management and senior leadership roles across both operational and non-operational departments.

During his career, he has been closely involved in strengthening operational delivery, risk management and organisational development. His work has included leading innovation in learning and development, overseeing the Service’s On-Call Improvement Programme, and driving investment in key enabling functions such as workforce development and information and communication technology.

The appointment followed a rigorous, multi-stage recruitment process led by Mid and West Wales Fire and Rescue Authority. Candidates were assessed through structured interviews, strategic leadership exercises and scenario-based assessments designed to test operational judgement, organisational vision and the ability to lead a modern fire and rescue service.

External professional assessors were also engaged to provide independent scrutiny, ensuring the process met high standards of fairness, transparency and challenge.

Mr Flannery emerged as the strongest candidate, demonstrating clear strategic leadership capability, detailed organisational knowledge and a strong commitment to community safety and service improvement.

Councillor John Davies, Chair of Mid and West Wales Fire and Rescue Authority, said: “Craig brings a deep understanding of our Service and a clear vision for its future. His appointment will strengthen our ability to innovate, support our workforce and deliver high-quality protection for the communities we serve.

“As we navigate a rapidly changing landscape, Craig’s experience in driving innovation and organisational development will be invaluable in helping us adapt and transform for the future.”

Commenting on his appointment, Mr Flannery said: “It is a privilege to lead this outstanding Service. I am committed to supporting our people, strengthening partnerships and building on the strong foundations already in place.

“As the challenges facing fire and rescue services continue to evolve, we must modernise and innovate, ensuring we have the skills, technology and capability needed to meet the needs of our communities. I look forward to working with colleagues and partners across Mid and West Wales to deliver a resilient, progressive Service that keeps people safe and places our staff at the heart of everything we do.”

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Health

Resident doctors in Wales vote to accept new contract

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RESIDENT doctors across Wales have voted to accept a new contract, with 83% of those who took part in a referendum backing the agreement, according to BMA Cymru Wales.

The contract includes a four per cent additional investment in the resident doctor workforce and introduces a range of reforms aimed at improving training conditions, wellbeing and long-term workforce sustainability within NHS Wales. The BMA says the deal also supports progress towards pay restoration, which remains a central issue for doctors.

Key changes include new safeguards to limit the most fatiguing working patterns, measures intended to address medical unemployment and career progression concerns, and reforms to study budgets and study leave to improve access to training opportunities.

Negotiations between the BMA’s Welsh Resident Doctors Committee, NHS Wales Employers and the Welsh Government concluded earlier this year. Following a consultation period, a referendum of resident doctors and final-year medical students in Wales was held, resulting in a clear majority in favour of the proposals.

Welsh Resident Doctors Committee chair Dr Oba Babs Osibodu said the agreement marked a significant step forward for doctors working in Wales.

He said: “We’re proud to have negotiated this contract, which offers our colleagues and the future generation of doctors safer terms of service, fairer pay, and better prospects so that they can grow and develop their careers in Wales.

“This contract will help to retain the doctors already in training, and also attract more doctors to work in Wales, where they can offer their expertise and benefit patients.”

Dr Osibodu added that the BMA remains committed to achieving full pay restoration and acknowledged that challenges remain for some doctors.

“Whilst this contract sets the foundations for a brighter future for resident doctors in Wales, we recognise that there are still doctors who are struggling to develop their careers and secure permanent work,” he said. “We need to work with the Welsh Government and NHS employers to address training bottlenecks and underemployment.”

The Welsh Government has previously said it recognises the pressures facing resident doctors and the importance of improving recruitment and retention across NHS Wales, while also highlighting the need to balance pay agreements with wider NHS funding pressures and patient demand.

The new contract is expected to be phased in from August 2026. It will initially apply to doctors in foundation programmes, those in specialty training with unbanded rotas, and new starters, before being rolled out to all resident doctors across Wales.

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Crime

Swansea man jailed for online child sex offence dies in prison

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A SWANSEA man who was jailed earlier this year for attempting to engage in sexual communication with a child has died while in custody.

Gareth Davies, aged 59, of the Maritime Quarter, was serving an 18-month prison sentence after being convicted in May of sending sexually explicit messages to what he believed was a 14-year-old girl. The account was in fact a decoy used as part of an online safeguarding operation.

The court heard that Davies began communicating with the decoy between November and December 2024 and persistently pursued the individual, later attempting to arrange a face-to-face meeting. He was arrested after being confronted by the decoy operators.

Davies had pleaded not guilty but was convicted following a trial. At the time of sentencing, police described the messages as extremely concerning and said his imprisonment was necessary to protect children.

It has now been confirmed that Davies died at HMP Parc on Wednesday (Nov 27) while serving his sentence.

The Prisons and Probation Ombudsman has launched an independent investigation into the death, which is standard procedure in all cases where someone dies in custody. No cause of death has been released at this stage.

A coroner will determine the circumstances in due course.

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