The level of first-time buyer and home mover mortgage business via intermediaries rose in the second quarter, according to new figures from the FSA and Council of Mortgage Lenders.
By volume, loans via intermediaries increased by 25 per cent for first-time buyers, from 24,000 in the first quarter to 30,000 in the second quarter, and 24 per cent for home movers, from 33,000 in Q1 to 41,000 in Q2.
The value of loans via intermediaries for first-time buyers increased by 30 per cent, from £2.1bn in the first quarter to £3.5bn in the second quarter, and by 26 per cent for home movers, from £5.4bn in Q1 to £6.8bn in Q2.
The total intermediary market share by volume for the quarter stands at 64 per cent for first-time buyer mortgages and 55 per cent for home mover deals.
Imla executive director Peter Williams (pictured) says: “These figures are encouraging and demonstrate the key role of intermediaries to mortgage distribution. Intermediaries have the knowledge required to provide specialist information, helping customers find the right product for their needs and saving time and money for both borrowers and mortgage lenders.”