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Business will pick up say L&G network advisers

Over half of mortgage network advisers predict protection business will pick up in the next three months, according to Legal and General director of housing Stephen Smith.

Smith says business forecasts among L&G’s network advisers are “looking up”, with 62 per cent saying they expect sales to get better over the next quarter compared to just 36 per cent at the end of last year.

He says: “Protection continues to be a valuable revenue stream for advisers and providers are pulling out all the stops to help advisers grow their business.”

Smith says L&G advisers are also more confident about forthcoming mortgage business, with only 16 per cent expecting a decline in sales compared to 45 per cent in Q3 and 33 per cent in Q4 last year.

He says: “The expectations of house purchase business over the next quarter are a bit more evenly spread in this survey, suggesting that buyers might be slowly coming back to the market. If the Government’s attempts to pump money into the system are successful, and if the supply of credit starts to catch up with demand, then we could potentially be seeing a halt to the declining housing market this side of Christmas. This prompts the question, ‘are we nearly there yet?’.”

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