View more on these topics

Over £70bn could be lent through advisers in 2009, says Ami

The Association of Mortgage Intermediaries has predicted that half of the reckoned £145bn of mortgages lent in 2009 will go through advisers.

Ami admits this is a “slight thaw” on the 45 per cent it predicted at the start of the year. It also predicts that gross lending will be around £20bn for 2009, another improvement on its previous prediction of negative gross lending by the end of the year.

Although it has eased up on some of its more downbeat predictions from January, the association still says there is a long way to go for the mortgage market to return to anything like it once was.

Ami’s report says: “There is little doubt in our minds the originate and distribute lending model is essentially over as a major force in the British mortgage market. There will only be room for a limited number of players and some of the products where the specialist lenders were traditionally strong simply won’t return in any size in the near future.

“Mortgage intermediaries will find most of their volume coming from the big balance sheet lenders and principally in prime sectors.

“The notion that Britons have a right to a mortgage and home ownership regardless of their ability to pay is simply not sustainable; economic funding is just not available.”

Recommended

Macro website launched

Several of the world’s leading multilateral organisations have joined together to launch a website with data on the 20 largest economies.The website presents G20 data available at participating agencies covering the financial, governmental, external and real sectors. It also provides links to data in websites of international and national agencies.The International Monetary Fund (IMF), which […]

Trouble ahead - thumbnail

Pensions: trouble ahead?

The pace of change in the pension’s space has been little short of astonishing, and has left thousands of employers struggling to keep their pension policy compliant, and also on the right side of current best practice and governance. Many employers, and indeed many in the pensions industry itself, would like to see a period of no change during the next term of government. This would give all sides a chance to catch up and draw breath. 

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment