Mortgage brokers are experiencing an up-turn in activity in the non-conforming market according to Mortgages plc and Mortgage Promotions.
According to their joing market view survey for July, 63 per cent of brokers say they have seen non-conforming business levels increase during July, compared to 33 per cent last month.
The research also shows 70 per cent of brokers use a single sourcing system. The top list of priorities when identifying the best products for clients are competitive interest rates, initial monthly payments and no extended tie-ins.
Mortgages plc sales and marketing director Peter Beaumont says: “There has been significant marketing activity amongst non-conforming lenders during recent months, with new products and more competitive mortgage rates being launched by a number of companies. This appears to have stimulated the non-conforming sector, with intermediaries actively promoting the new deals on offer.”