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Mortgage adviser confidence up

Mortgage adviser confidence up

Category: Mortgages

Updated: 10/06/2009
First Published: 10/06/2009

MONEYFACTS ARCHIVE
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Against a backdrop of rising house prices and buyer activity, mortgage advisers are reportedly more confident about their prospects than they have been for a year.

Fifty-four per cent of advisers expect their business to improve over the forthcoming three months, an increase on last quarter's figures, according to Legal & General's (L&G) Adviser Confidence Index.

Just six per cent of advisers said they thought business would deteriorate in the next quarter, while an additional 40 per cent are expecting to maintain their current level of activity.

It is the most confident advisers have been since the index was established at the beginning of 2008.

"Might these predictions of green shoots be coming true?" asked Stephen Smith, L&G's director of housing. "It seems that house price falls have slowed, as have falls in mortgage approvals and more and more evidence suggests that the housing market is over the worst. Our advisers certainly seem to think so."

The index also found that mortgage advisers think that remortgaging activity will remain steady, with a quarter saying it will make up between 20 per cent and 40 per cent of their business operations.

There also seems to be a growing belief that higher levels of house purchasing are on their way, as more advisers are predicting increased property sales than at any time over the last 18 months.

Protection business is also predicted to do well; over half of advisers think this avenue will increase over the next three months, while a further 41 per cent foresee a continuation of their current level.

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