Intermediary mortgage sales predicted to further dominate market

CML - 700

Intermediary mortgage sales have scope for significant growth as customers’ need for advice increases, according to a senior industry figure.

Speaking to the Council of Mortgage Lenders ahead of their conference on the role of intermediaries in the mortgage market on Thursday, Virgin Money mortgages director Peter Rogerson said that intermediary sales, which currently account for two-thirds of the market, will continue to increase.

“Customers need advice and they will go where they can get it,” says Rogerson.

“We certainly believe that the gross lending market will continue to grow and thus in absolute terms the volume of lending through intermediaries should continue to grow.”

However, Rogerson said that lenders will also invest in ensuring they maintain their direct share of lending.

“If we can keep the market growing, then everybody will be better off,” he added.

Rogerson will chair the CML’s conference on Thursday, 22 September, which will be held at the America Square Conference Centre in London.