20
May
Mortgage brokers offering advice to borrowers
Brokers are increasingly performing an advisory function, according
to new research from Alliance & Leicester mortgages.
It found that 76 per cent of brokers feel their role is becoming
more advisory and will continue to do so for the next six
months.
In addition, 47 per cent of brokers in the bank's survey believed
that they now provide their clients with "more insight and thought"
than they did six months ago.
Of those, 48 per cent cited lower confidence in the housing market
as the main reason for that trend, while 22 per cent singled out
the economy.
Commenting on the findings, Raj Uppal, director of mortgages at
Alliance & Leicester, said: "Borrowers are becoming
increasingly aware of the importance of making the right mortgage
choice and that they can take advantage of brokers' wealth of
knowledge to ensure this."
The bank launched a new range of mortgages earlier this month,
offering lower interest rates for customers requiring a
loan-to-value ratio of 75 per cent and under.
