Brokers feeling more confident

Mortgage brokers are more confident about the overall outlook for the mortgage market with a rise in the proportion reporting an increase in confidence, new research from Halifax shows.

The findings, compiled by BDRC Continental, show 70 per cent of a survey of 300 brokers were confident about the prospects for the mortgage market, up from 66.5 per cent a year ago.

On average, the number of cases per broker has also increased in the past 12 months to 74.5 in the first half of the year up from 66.5 in the second half of last year and 62 a year ago.

Brokers said the biggest increase in business has come from specialist buy-to-let lending and remortgage lending.

Halifax Intermediaries head of sales Ian Wilson says: “Mortgage brokers are a resilient bunch and it is encouraging to see increasing confidence in the sector over the course of the last few years – albeit slowly.”

Emba group sales and marketing director Mike Fitzgerald says: “The market is now a lot better than it was but it still has some way to go. There are lenders out there which are trying to lend.”