2014 will hopefully bring better growth

But lenders in 2014 will need to not just look forward at new borrowers but be mindful of their back books too. A key challenge will be working to help ensure existing interest-only borrowers have in place a workable plan for repaying their mortgage.

Mostly for 2014, we hope for a mortgage market that shows steady growth; a Goldilocks market, neither too hot nor too cold.

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Paul Smee is director general of the Council of Mortgage Lenders