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Intermediaries are upbeat over future

  • 15/07/2003
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The vast majority of intermediaries are confident about the housing market over the next two years, ...

The vast majority of intermediaries are confident about the housing market over the next two years, despite the Council of Mortgage Lender’s (CML) figures showing the number of first-time buyers has decreased by 10% in the last year, according to Preferred Mortgages.

Its Sub-Prime Mortgage Report claims 65% of intermediaries surveyed have confidence in the market, while 84% of IFAs and mortgage brokers intended to remain in the industry. The directly authorised route is the most popular, with 59% expecting to become directly authorised while another 21% would like to become authorised representatives. Only 4% expect to become introducer-only for mortgages.

Simon Biddle, marketing development manager at Preferred Mortgages, said: ‘It is very positive news for the sub-prime market with IFAs and mortgage brokers holding a vast amount of knowledge and expertise on the market and the products on offer. The borrower would have suffered considerably if regulation had driven out intermediaries.’


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