View more on these topics

Brokers say lending to top £195bn in 2014

More than one in three brokers believe gross lending will be above £195bn next year.

Over the past two weeks Mortgage Strategy has run a straw poll asking brokers how much they believe mortgage lenders will advance in 2014.

Around 34.2 per cent of the 213 brokers who voted believe the mortgage market will advance over £195bn next year. This is split up into 17.8 per cent who believe up to £205bn will be advanced to borrowers and 16.4 per cent who believe the market will advance up to a whopping £215bn.

One in four – 25.3 per cent – believe the market will advance between £185bn and £195bn, while 21.1 per cent and 19.7 per cent of brokers believe the mortgage market will hit up to £175bn and £185bn respectively.

At the end of last year, the Council of Mortgage Lenders predicted the market would advance around £156bn this year, although this forecast is likely to be exceeded by the end of next month. To the end of October, lenders had advanced £142.3bn to mortgage borrowers.

The trade body also forecast gross lending of £150bn next year but this is likely to be increased next month when it comes to reviewing its forecast for 2014/15.

London & Country associate director of communications David Hollingworth says: ”I think what this gives is a real flavour of the optimism in the broker community and how things could pan out next year. And that stems from how busy the market is next year and what products are at brokers’ disposal.

“I think the higher estimates are probably going a bit too far but clearly we are looking for a marked improvement on this year’s lending.”

Recommended

EDL founder Robinson admits fraud

English Defence League founder and former leader Stephen Yaxley-Lennon, know widely as Tommy Robinson, has reportedly admitted to committing mortgage fraud. According to the BBC, he has pleaded guilty to two accounts of conspiring to obtain a mortgage by misrepresentation from Abbey and Halifax. His address and the court where he appeared cannot be named […]

Planning boost

Planning permissions for new homes are up 31 per cent year-on-year according to the latest data from the Home Builders Federation. In the third quarter of 2013 there were 44,251 permissions on 826 sites, which is up 19 per cent on the 37,053 granted the previous quarter and is the highest quarterly tally since 2007. […]

John-Eastgate-700.png

There needs to be more to the housing recovery than Help to Buy

The Victorian economist, Alfred Marshall, once said: “We might as well reasonably dispute whether it is the upper or under blade of a pair of scissors that cuts a piece of paper, as whether value is governed by demand or supply.” Consider this in the context of Help to Buy and other housing stimuli. Some […]

Chasers face 10% regulatory fees hike as MoJ steps up scrutiny

Claims management companies are facing a 10 per cent rise in regulatory fees as the Ministry of Justice steps up its scrutiny of the sector. The MoJ, which regulates claims management firms, earlier this month published proposals for stricter rules for claims firms which aim to crack down on speculative claims and irresponsible practices. It […]

Abe and Modi

Investment ideas to power returns

We believe the most exciting stockmarket opportunities today are in those places where a new generation of leaders are successfully transforming economies and companies in favour of investors. In a new investment guide and website, which is suitable for use with your clients, we set out our views on these reformers. Click here to find […]

Newsletter

News and expert analysis straight to your inbox

Sign up