Despite the fact that the Council of Mortgage Lenders’ latest figures for June this year found remortgaging fell 15 per cent from May, the first results of its Mortgage Intermediary Market Confidence Barometer found confidence surrounding remortgaging remained high.
The Confidence Barometer measures how confident brokers are in six market components and was conducted over the last three months amongst 323 intermediaries.
Brokers were asked to rate each component on a scale from 0-100. A score of over 50 indicates that brokers have a positive view whereas a score of under 50 indicates a negative outlook.
While brokers expressed a degree of confidence for all six components measured, it found that the anticipated demand for remortgaging attracted the most confidence with a score of 64.8.
Brokers were quite confident about the potential for house prices to rise with a score of 57.7 and it appears that their concerns about the availability of lending have eased with Sufficient funding from lenders across all LTVs getting a score of 56.5.
They also seem comfortable that there is an Adequate supply of properties in your local area with a score of 54.8.
While still in positive territory, the prospects for first-time buyer affordability and homeowners having sufficient equity in their existing properties to move earned the lowest scores with 51.9 for both.