A quarter of intermediaries currently operating in the mortgage market could be forced out of business in the next two years if current market forecasts are to be believed.
Chairing a question and answer session at Mortgage Strategy’s Mortgage Summit in Jerez, John Malone, managing director of Premier Mortgage Service says the disparity between the value of the market last year and current predictions for the end of 2005 means something has to give.
Malone told delegates: “Figures published by the Council of Mortgage Lenders in August predict that the market will be worth 228bn next year.
“Considering the market at the end of last year was worth 291bn, this suggests that there may be less business to go round.”
For the full story, see next week’s Mortgage Strategy.