In episode #140 of the Growth Series podcast's Mortgage Mentors series, Jeremy Duncombe, Managing Director at Accord Mortgages is joined by Charles Roe (UK Finance) and Rob Thomas (IMLA) for the fourth annual Economists' Year in Review, analysing how the mortgage market performed in 2025 and why lending exceeded expectations. They discuss the drivers behind stronger-than-forecast activity, the impact of regulatory adjustments, evolving lender behaviour, shifting dynamics in buy-to-let, and what borrower choices between product transfers and remortgaging signal about confidence levels. The episode closes with a frank debate on housing supply, labour market pressures and whether exceptionally low arrears suggest the market may now be too tightly constrained. A sharp and forward-looking review of a year that proved more resilient than many predicted.