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Brokers show loan optimism

More than half of brokers are optimistic the mortgage market will improve

in the next quarter, according to research by the Mortgage Business.

Currently, 54 per cent of brokers are optimistic that business will

improve in the next quarter.

Brokers have reported significant increases this quarter in sales of

self-employed and flexible mortgages, with 38 per cent having seen an

upturn in business since the last quarter and 10 per cent reporting

increases of between 46 per cent and 100 per cent.

Intermediaries attribute the increase to a rise in the number of

self-employed people and a shift towards more flexible work patterns,

making it difficult to prove income.

Brokers say their optimism for the next quarter is based on factors such

as customers wanting to move before prices soar or remortgage before

interest rates rise.

TMB managing director Mark Charlesworth says: “I am sure that this is a

trend which is likely to continue.”

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