e.surv has reported that September saw the highest volumes of instructions for the last 12 months.
Richard Sexton, business development director at e.surv says: Whilst numbers of instructions from intermediaries have fallen as a result of a period of consolidation following M-Day, direct lender instructions have more than compensated for this and we are very happy with our activity levels generally. Activity is up due to both new client relationships, as well as lenders having been generally more busy in recent months.”
e.surv projects that October will be better than September, and November will see volumes peak for the year, with the outlook for the first part of 2006 also positive as lenders enter the new year with a business pipeline position that did not exist at the start of 2005. Whilst the Council of Mortgage Lenders are projecting overall lower lending levels in 2006, e.surv believes that levels will be higher than those of 2005.
Sexton says: It may be that the CML is managing expectations to a certain extent, but with a predicted benign interest rate environment and a strong start to the year, we are certainly budgeting for further growth in 2006.