As confidence returns to the housing market and banks become increasingly flexible with their lending criteria, many buyers across Northern Ireland are finding fresh opportunities to secure their dream home.

We spoke to Sam Mulholland, Director at Crawford Mulholland Financial, based on the Lisburn Road, Belfast, to find out why now could be one of the most promising times in years to make a move.

A strong year for the market
“Compared to some of the quieter periods we’ve seen in recent years, the market is performing exceptionally well,” explains Sam. “At the minute, there’s still a lack of housing stock, which is naturally driving up prices, but overall buyer sentiment remains very positive. Our business is up 15% on last year, and the average mortgage size has increased too, which shows how confident people are about making longer-term commitments.”

Sam adds that the momentum is being supported by continued optimism in the lending sector. “There’s a real sense of positivity right now and that’s reflected in both how active buyers are and how willing banks are to support them.”

Evolving lending criteria
One of the most encouraging signs for buyers is the shift in how banks are approaching lending. “We’re now seeing banks willing to lend up to five or six times earnings, which is a real change from the cautious approach taken a few years ago,” says Sam. “Interest-only deals are also creeping back into the market, giving borrowers more flexibility depending on their circumstances.”

Deposit requirements have also improved dramatically, particularly for new builds. “NatWest is now offering 5% deposits for newbuild homes, which is a big step forward when you consider that not too long ago, they were sitting at 15%,” Sam explains. “There’s definitely more positivity around deposits, and that’s helping a lot of first-time buyers get onto the ladder.”

Rates and affordability
The outlook for interest rates remains highly encouraging. “Depending on how the economy performs, we could see the base rate fall again in December or early 2026,” Sam says. “UK unemployment was slightly higher than predicted this week, which makes it more likely that rates will decrease, subject to the budget. We’re optimistic that it could settle around 3.5% during 2026, but banks are already factoring in this expected drop now. That means the competitive deals currently available are likely to be some of the best we’ll see for quite a while.”

Sam also notes that Northern Ireland continues to offer exceptional value. “It’s still extremely affordable to buy here, especially compared to other parts of the UK. We’re still seeing people move back from England, as well as professionals working in Dublin but choosing to live in Northern Ireland. With hybrid and remote working now so common, buyers can enjoy higher city-based incomes alongside much more affordable housing.”

A positive outlook
“Overall, it’s an extremely positive time,” Sam concludes. “Rates are on the way down, criteria is getting easier, and deposit requirements for newbuilds are much lower than they’ve been in years. Combined with more flexible mortgage appointments, whether that’s over a Teams call from home or after work with Crawford Mulholland’s, there’s never been a better time to explore homebuyer options.”

To contact Crawford Mulholland Financial, visit www.crawfordmulholland.com