View more on these topics

Third of brokers expect business levels to rise in Q4

A third of mortgage brokers believe business levels will increase during Q4 of this year, according to research from the Intermediary Mortgage Lenders Association.

The majority of these are expecting a relatively small rise in business levels, with 26% of brokers predicting an increase of between 3% and 7%, and a further 8% predicting growth of more than 7%.

The survey also shows that 64% of intermediaries expect business levels to remain stable in Q4, and just 2% expect business to fall.

Half of respondents believe buy-to-let business will increase during the period, while 46% expect remortgage activity to grow, 44% think next-time buyer business will rise and a third think first-time buyer business will increase.

Meanwhile, 49% of intermediaries reported that mortgage market conditions improved in Q3, compared to 14% who thought that conditions in the sector worsened. The remaining 37% said that conditions remained unchanged.

John Heron, chairman of IMLA, says: “This positive attitude from intermediaries is a reflection of the general improvement seen recently in the mortgage market.

“The pick-up is slow but market conditions are gradually improving, particularly in the buy-to-let and remortgage markets.”

He adds that the research goes against the recent perception that mortgage finance is unavailable, by indicating that good deals are out there and intermediaries are well placed to help find them.

The survey is based on responses from 108 brokers around the country.

Recommended

Bogus broker given a suspended sentence

A man masquerading as a broker has been convicted of fraud after pocketing a £5,000 arrangement fee from a client. The Birmingham Mail reports Mohammed Aslam was sentenced to 12 months in prison suspended for two years and 250 hours of unpaid work.

Google’s mortgage site does a disappearing act

Mystery surrounds what has happened to Google’s UK mortgage comparison website, which is no longer appearing at the top of its paid for searches. In July Mortgage Strategy reported that Google was piloting a mortgage comparison website Compare UK Mortgage, which contained sponsored links from a number of lenders such as Woolwich, ING Direct, the […]

Newsletter

News and expert analysis straight to your inbox

Sign up
Comments
  • Post a comment
  • Michael White 20th September 2011 at 4:30 pm

    Mmmmm. Blind faith? Or maybe blind drunk? I suppose when the situation is so bad it can only get better for 33% of the 108….but unfortunately the practicalities of the scroungers of Europe now going bankrupt one by one is likely to result in there being worse to come.

    The parallels with the 1970s are unfortunately not so far fetched…

    The ‘pick-up’ in the market mentioned by Mr Heron is fractional… forget the August blip, the big lenders are reporting a reduction in volume year to date!…14% of the 108 seem to recognise this.