Mortgage brokers are expect-ing the sub-prime market to flourish over the next five years
A sub-prime mortgage report commissioned by specialist mortgage group, Preferred Mortgages has shown 61% of IFAs and brokers predict an increase in the market.
Simon Biddle, marketing communications manager at Preferred Mortgages, said: ‘The sub-prime market should be pleased with these findings as there is no doubt IFAs and mortgage brokers perceive sub-prime mortgage lenders as positive viable alternatives.’
In addition, the research showed 57% of participants believe traditional lenders are too cautious with their lending criteria.
However, Biddle added: ‘The predicted growth of our business is not just influenced by what the traditional lenders do. Only 35% of IFAs and brokers believe the tightening of lending criteria will help drive the sub-prime market, confirming our market has growth potential in its own right.’
