Confidence Returning for Mortgage Brokers | 16.07.2009

Mortgage Advisors are predicting a significant rise in the mortgage business through intermediaries in the 3rd quarter of 2009, according to Paragon’s Financial Advisor Confidence Tracking Index.

The predicted rise of 8% on the previous quarter would mean an increase in mortgage business for the second quarter running and is certainly a good improvement from the negative results of 2008.

58% of respondents predicted the 8% rise with nearly a third (31%) expecting this to be at least 10%. Only 7% of brokers expect levels of business to fall – a most favourable comparison when compared to Law2Law’s March 2009 survey (19% expected levels to fall) and December 2008 was worse with 39% of brokers expecting the decline.

It seems the green shoots of recovery stories of new mortgages and new lending are indeed factual – a welcome change from the doom and gloom of recent months.

By Samantha Jones, Law2Law.