Over 80% of advisers expect the same or more business in 2011
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Legal & General’s quarterly adviser confidence index shows 85% of advisers expect their business volumes will be at least the same or greater in 2011.
Some 31% of advisers expect business levels to be better in 2011, with 54% expecting the same amount of business.
When polled about remortgage and purchase business in the coming year, 21% expect to do 30% remortgage business compared to 70% purchase business, followed by 20% expecting 10% remortgage business and 90% purchase business.
A staggering 96% of those polled predict the Bank of England base rate will stay the same in 2011, with 4% predicting it will increase by 0.25%.
Stephen Smith, director of housing and external affairs at L&G Network, says: “The start of New Year brings a wave of optimism for advisers, with 85% saying that their business volumes will be at least the same or greater than the last three months and a minority, only 15% saying that volumes will fall.”
He adds: “So with a thaw in the icy condition which gripped the country before Christmas, perhaps the business outlook for mortgage intermediaries is warming up too.”
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