The chief executive of AMI, Robert Sinclair, predicts brokers will write three in four mortgages within five years as the direct-only channel heads into “decline”.
Mortgage Strategy can reveal Tesco Bank has held talks about a potential move to distribute through brokers.
The Council of Mortgage Lenders suggests lending may have hit a “plateau”, despite advances rising 10 per cent year-on-year in September.
Brokers can expect the rate war to last for at least the next three months as lenders predict a “significant” narrowing of mortgage spreads in the fourth quarter.
Just a few months ago, general consensus was that we would see the first round of rate rises before Christmas but this now seems to have been pushed out to next spring/summer. As a result, swap rates fell and lenders reacted by cutting rates.
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Former US Treasury Secretary Timothy Geithner opens up on how he dealt with the worst financial meltdown for a generation.