A mortgage adviser confidence survey suggests many feel the drop in consumer appetite in the housing market is a challenge but over half are still ‘fairly confident’ about mortgage availability.
Just under a third of brokers think further property price falls will be the biggest post-referendum consequence and almost a quarter, or 23% expressed fears over a fall in investor demand, according to Shawbrook data.
The overall levels of broker confidence rest on a strong start to the year, with 64% of brokers seeing an increase in business volumes and 43% dealing with growing client demand, compared with the second half of 2015.
On top of this, over a third (34%) of brokers are fairly confident about the UK economy post-referendum, despite fears regarding uncertainty in the markets. Although the number of brokers feeling confident is nearly identical to those who are concerned, the trend has shifted post-Brexit with a larger proportion of brokers now more cautious than they were previously.
Karen Bennett, managing director, commercial mortgages, said: “With the implications of Brexit still unclear, it is understandable that brokers may feel a little nervous about the market. However it is encouraging to see a positive outlook in the main – particularly where client demand is concerned – and in spite of the challenges faced there is still much in the way of opportunity.”
On 1 August, the Institute of Chartered Accountants in England and Wales (ICAEW) also reported ‘resilient’ business sentiment after the Brexit vote despite the political shock.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
