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Broker confidence hits year high in Q4

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  • 02/02/2011
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Broker confidence hits year high in Q4
Mortgage brokers’ confidence in the market rose to a year high over the last quarter of 2010, buoyed by the rising number of products available to the sector, according to Platform.

Its research, tracking the sector over the past 12 months, revealed that the balance of brokers who saw in increase in business rose to +35 in Q4 2010 compared to +28 in the previous quarter.

However, just 7% of brokers believe there will be an improvement in funding options in 2011.

Nevertheless, of the 300 intermediaries surveyed, Platform found that 40% believe remortgaging is the area with the most opportunity for business this year, while 28% see the buy-to-let sector as key.

Nearly all intermediaries (97%) believe the market needs to do more to promote the benefits of professional mortgage advice.

Lee Gladwell, business development director at Platform, said it was vital that lenders support intermediaries, particularly in the remortgage and buy-to-let sectors, in order to grow the market.

He said: “The economic environment remains uncertain and increasing numbers of homeowners are searching out deals at the moment, primarily due to the continued risk of interest rate rises.

“With more consumers than ever seeking mortgage advice, 2011 is a year of opportunity for the intermediary industry.

“However, the sector as a whole needs to work together to make this opportunity a reality.”

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