11
Jul
Brokers predict upturn in mortgage business
Mortgage brokers have predicted that in the next three months, they
could do up to eight per cent more business than they did in the
second quarter of 2009.
Paragon's Financial Advisor Confidence Tracking Index - a survey of
financial advisors - also revealed that 58 per cent of respondents
expect an increase in mortgage business to occur.
A further 31 per cent are estimating a 10 per cent or more uplift
in activity.
Compared to March 2009, when 19 per cent of mortgage brokers
expected their business to fail, altogether only seven per cent are
predicting this kind of negativity.
John Heron, managing director of Paragon Mortgages, said: "We are
starting to see concrete signs of confidence returning to the
mortgage market and that can only be a positive for the UK housing
market."
Meanwhile, the Residential landlords Association recently claimed
that there are over 500 buy-to-let mortgage deals on the
market.
