In just ten days this March, we tracked over 34,000 product changes on our platform. It’s no surprise that the headlines have been fixated on rates being pulled and hiked, it’s a lot to keep up with.
But while being the cheapest might get you noticed, it’s not a long-term winning strategy. In a crowded market, price cuts are matched almost instantly, which usually just squeezes your margins without actually building lasting volume.
The reality is that "standard" borrowers are becoming a rare breed. Between higher interest rates, the cost-of-living squeeze, and changing work patterns, cases are getting complicated. We’re seeing more mixed incomes and tighter affordability than ever before.
This makes product design harder, but also much more important. A minor adjustment to affordability treatment, income recognition or term limits can determine whether a product is viable for a meaningful share of borrowers or misses the mark entirely. In a subdued market, launching products that look competitive on paper but fail to meet real borrower needs is a costly mistake. You can’t afford to launch products that look good on a spreadsheet but fail in the real world. That’s why a data-led approach is no longer a "nice to have", it’s essential.
Lenders need to know what’s happening right now, not what worked two years ago. By looking at live broker enquiries, you can see exactly where the demand is, where cases are falling out, and which rules are causing unnecessary friction.
This is exactly why we built INSIGHT Pro. It’s designed to give you a clear window into broker demand and borrower behaviour and includes product, affordability and criteria data. It’s not about making changes for the sake of it, it’s about making smarter, more confident choices in a market where there’s very little room for error.
Using data in this way allows lenders to test assumptions before committing to change. It supports more confident decisions around criteria, affordability and product structure, and reduces the risk of unintended outcomes. It also helps lenders focus effort where it will have the greatest impact, rather than spreading resource too thinly, plus you can set up live email alerts against any data element or report to ensure you have immediate knowledge of key performance indicators.
Growth may remain limited right now, but opportunity still exists. It will favour lenders who are thoughtful rather than reactive, and who use insight to guide product decisions. In a competitive market with little room for error, smarter product design is one of the most effective ways lenders can remain relevant, support brokers and compete without relying solely on price.
This is where tools that bring real market data into product design conversations can add real value. Having the ability to analyse live enquiry data, model potential changes and assess likely impact before going to market helps reduce risk and focus effort where it will matter most.
It supports better collaboration between product, risk and distribution teams, and helps ensure changes are grounded in reality rather than assumption.
