We guide clients through the legal process of buying and selling homes with clarity and efficiency, specialising in residential conveyancing here at Ives & Co.
In 2025, with affordability rules being relaxed, more people are stepping back into the property market — and our legal team is here to ensure everything runs smoothly from offer to completion.
1 – What’s Changing in 2025?
Affordability assessments, which lenders use to check whether a borrower can repay their mortgage — have been relaxed by some major banks. This shift is designed to improve access to the housing market, particularly for:
- First-time buyers
- Those with variable income or modest deposits
- Homeowners re-mortgaging due to expiring fixed-rate deals
Lenders are now placing more weight on current income and spending, rather than testing against high interest rate scenarios that may no longer reflect the market.
2 – Why Is Demand Increasing?
Since the start of the year, property searches and agreed sales have risen. This renewed activity is being fuelled by:
- Easier access to mortgage products
- Competitive rates for certain buyer groups
- Growing confidence in the housing market
- Buyers re-entering after delaying in 2023–2024
With these changes, people who were previously priced out or restricted by stricter affordability tests are finding new opportunities to purchase property.
3 – What Buyers Should Keep in Mind
While relaxed affordability assessments are helpful, buyers should still consider:
- The long-term affordability of their mortgage
- Any potential changes in interest rates or employment circumstances
- The importance of legal checks during conveyancing to protect their interests
Being financially approved is one thing – being legally protected during the purchase is another. Conveyancing remains a vital part of the process to avoid surprises, delays, or disputes.
In Summary
The easing of affordability assessments in 2025 is helping to unlock housing demand, especially among first-time buyers and those returning to the market.
But while access to lending may be improving, the need for thorough, transparent conveyancing remains unchanged. If you’re planning to buy or sell this year, be sure to stay informed, prepared, and legally secure every step of the way.
