Almost two-thirds of brokers believe the intermediary share of the mortgage market will be above 60 per cent this year – and over a quarter believe it will be above 70 per cent.
A recent poll of 355 brokers conducted by Mortgage Strategy shows 35 per cent of brokers believe their share of the mortgage market will reach up to 70 per cent this year, with a further 29 per cent predicting it will rise above 70 per cent.
Some 21 per cent of readers believe brokers will take a market share of between 50 and 60 per cent while just 14 per cent believe brokers’ market share would be below 50 per cent.
The most recent data from the Council of Mortgage Lenders shows brokers had a 60 per cent share of the market in the third quarter of last year.
Trinity Financial product and communications manager Aaron Strutt says: “It’s clear that brokers are confident going into 2015 and there are good reasons for that.
“Obviously, lenders are increasingly aware of the importance of brokers in the mortgage process now, and rates are continuing to fall. You’ve also got a couple of new entrants into the intermediary lending channel, which is another positive step that should help brokers achieve the volumes they clearly think they can.”
Perception Finance managing director David Sheppard adds: “A key factor in brokers’ confidence for the year ahead is around how difficult it is to get a mortgage now.
“The complexity involved now means the majority of people will have to seek advice before going through with what is the most important purchase of their life. Clearly brokers are ready and waiting to provide that service and make a big push in 2015.”