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Intermediary mortgage market share unchanged in 2009

Intermediaries retained approximately the same market share in the second half of 2009 as they did in 2008.

According to the Intermediary Mortgage Lenders Association, recent Council of Mortgage Lenders figures revealed that mortgage lending via intermediaries, by value, accounted for 64 per cent of total mortgage lending in the first quarter of 2009, approximately the same proportion as the second half of 2008.

The figures showed that 70 per cent of first-time buyer loans, by volume, came through intermediaries in the first quarter of 2009, up from 68 per cent in the previous quarter, while home mover loans through advisers increased from 56 per cent to 58 per cent over the same period.

IMLA executive director Peter Williams says: “People value the service that the adviser community provides and that is why they remain the first destination for many when looking for a mortgage.

Williams says because the mortgage market is less than half the size it was at its peak, brokers have to work hard for the reduced business there is in the market.

He says: “Consumers value this channel and clearly so do lenders. Indeed despite all the turbulence in the market a number of lenders have strengthened their intermediary operation. There will be many challenges ahead but in our view the intermediary market will remain at the heart of mortgage distribution”

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There is one comment at the moment, we would love to hear your opinion too.

  1. It doesn’t feel like it
    When you switch on your PC in the morning and check the latest schemes it certainly doesn’t seem like we control the lion’s share of distribution.

    Dual pricing, diabolical intermediary service levels, illegal cross-selling, disinterested regulators all stack up against us.

    Yet the one party in all of this who is most important, the customer, still values us, I think the majority are wise enough to know that the lenders and their regulator friends are in cahoots to fix the market in their favour. And long may it continue!

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