View more on these topics

Optimism high for mortgage business

IFAs are rediscovering an optimistic outlook for the mortgage market following a winter of discontent, according to Paragon Mortgages.

Its financial adviser confidence tracking index of mortgage business shot up from 104.4 during the last quarter of 2000 to 111.8 in the first quarter of this year, the highest figure since 1999.

IFAs expect a rise of 8.7 per cent in mortgage sales during the second quarter of this year, a level that Paragon says confirms the upward trend in confidence.

High levels of remortgaging account for much of this renewed optimism, with the index revealing that sustained growth in this area is driven by borrowers&#39 attempts to reduce their outgoings.

The number of remortgages arranged to release cash rose to 13 per cent from 9 per cent during the last quarter while the number of borrowers remortgaging to buy second homes fell to 10 per cent from 12 per cent.

Discount mortgages fell in popularity over the same period, down to 38 per cent of sales in the last quarter from 45 per cent of sales but still ranked alongside fixed and capped-rate mortgages, which went up to 38 per cent from 32 per cent.

Paragon managing director John Heron says: “Confidence in the housing market is still apparent but it remains to be seen how well it will stand up to stockmarket volatility and other crises such as foot and mouth.”

Recommended

Telecoms are the future for Merrill Lynch

Merrill Lynch Investment Managers is connecting up to the world of telecommunications with the introduction of the world telecoms fund.World telecoms is a Luxemburg based Sicav brought in for experienced investors looking to add a high risk fund to their portfolio.Eighty per cent of the fund will invest in telecommunications operators such as British Telecom, […]

Yorkshire widens loan range with rebranding

Yorkshire Building Society is set to revamp its image and product range as part of a major rebranding exercise.The UK&#39s third-biggest building society is adopting a new logo and overhauling its 131 branches after spending a year researching public expectations from a modern mutual in terms of image and service.Yorkshire is expanding its range to […]

How does your garden leave go?

If you have any questions for Money Marketing&#39s legal surgery, please email them to garethf@armstrongnealfinancial.co.uk.Please note that neither Money Marketing nor our legal correspondent can accept any liability for answers given to queriesEmployers are sometimes faced with the problem of how to stop unfair competition from former employees when they leave.Clauses that prevent employees working […]

ACM bets on America

America is the land of opportunity for Alliance Capital Management as it brings in the ACM Bernstein American value portfolio fund.Aimed at experienced investors who are looking for growth and income, the fund is a Luxemburg-based Ucits and is denominated in either US dollars or Euros.The fund will invest in a spread of between 70 […]

India correction: a terrific entry point?

By Kunal Desai, head of Indian Equities, Neptune A key concern for investors who were looking at India afresh has been the rich valuations and strong prior performance. We view the correction in the market through short-term growth concerns from demonetisation as a terrific entry point for the long-term investor. Investors should not be overly concerned […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com