Mortgage intermediary confidence is at its highest level since 2015 since 2015, according to the latest Financial Advisers Confidence Tracking Index report from Paragon.
The report is based on interviews with 199 mortgage intermediaries and found the index to be 105.9, the highest score since Q4 2015.
The report found the increase is in part due to increased activity in the mortgage market, with the average number of mortgages introduced per advisers’ office in Q3 2017 at 24, up 9 per cent on the previous quarter and 8 per cent on the previous year. This is the third highest recorded figure since the 2008 financial crash and maintains the long-term recovery from a record low of 14 in 2009.
On average, mortgage advisers expect to do 2.4 per cent more mortgage business in Q4 2017, with the expected number of cases in the next three months stable at four, maintaining the reversal of a two-year downward trend between 2014-2016.
Half (50 per cent) of brokers said that, compared with the last 12 months, they expect buy-to-let business to stay the same in the next 12 months.
Paragon mortgages managing director John Heron says: “A wide variety of recent data on housing has pointed to a market that has been finely balanced. Low transaction numbers have been bolstered by higher numbers of first time buyers, house prices outside London have been creeping up and landlord activity has stabilised.
“These trends are confirmed by our latest intermediary survey with confidence now at the highest level for some time. Despite a rather uncertain environment, intermediaries are seeing higher levels of remortgage activity and at least stable demand from buy-to-let landlords.”