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Mortgage brokers report renewed confidence

Mortgage brokers report renewed confidence

Category: Mortgages

Updated: 07/05/2009
First Published: 07/05/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Further hope that the property market may be beginning to recover has been fuelled by signs of confidence in the mortgage intermediary sector.

A significant number of brokers have stated they expect to complete more mortgage business for the first time in over 12 months, research from Paragon Mortgages has revealed.

Advisers said they anticipate an average business upturn of 3.6 per cent between April and June compared to the first three months of the year – the first predicted increase in activity levels since the third quarter of 2007.

Almost a quarter of advisers believe business will rise by ten per cent, while nearly one in six predicted a rise of between six and ten per cent.

In total, twice as many mortgage intermediaries think business will pick up in the second quarter of the year, rather than fall.

"Mortgage and housing market data continues to be mixed, but the general trend in recent weeks is of more positive signs emerging," said managing director, John Herron.

"Brokers are a key barometer of the health of the housing market. They are telling us that mortgage business levels are picking up, which should translate into more housing market activity."

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