Brokers see record monthly deals, says IMLA

Recent research from the Intermediary Mortgage Lenders Association has revealed volumes of mortgages handled by intermediaries have risen to a record 20 per month.

More than 300 intermediaries in all parts of the country responded to the independent in the Q4 2006 survey conducted on behalf of IMLA.

From the statistics collected by IMLA, 38% of intermediaries arrange between six and 16 mortgages per month, and 19% between 16 and 40. And 14% arrange more than 40 per month.

The typical firm is either a general financial adviser or a mortgage specialist, has around four or five fee earners most likely operating out of one office, and arranges about 19 mortgages per month.

Guy Batchelor, chairman of IMLA, says: What emerges is a sector that is in rude good health. Not only are intermediaries holding their own, but they are also gradually growing the reach of their businesses in response to a healthy market.

The fact that around two-thirds of the UKs mortgage volumes are now generated through the intermediary sector shows that the British consumer values the service provided by our intermediary partners.

For IMLA it is encouraging that the intermediary sector continues to develop and we remain committed to co-operating fully with the Association of Mortgage Intermediaries and with intermediaries generally to promote best practice in the industry.