Fixed rates hit historic lows during the summer months as lenders battled in the sub-2% space while the launch of the government’s Help to Buy scheme has seen an influx of first-time buyers into the market.
First Complete sales operations director Toni Smith, writing in a blog for Mortgage Solutions last week, said most mortgage brokers in her network had witnessed an increase in business.
Our poll asked brokers if they’d seen a rise in business compared to the same period last year and half of respondents (49%) said business was up by more than 20%.
A further 21% said they had seen growth of 10-20% while only 17% of voters said there business had not grown at all in the last 12 months.
“It’s great that work is now plentiful again and good to see firms recruiting and expanding,” Smith said. “Especially as it looks like this will continue throughout next year with the latest lender forecasts for mortgage lending ranging between £170bn and £210bn for 2014.
“First Complete itself is leading this trend as we have just broken our highest ever volumes of both mortgage and protection business and it is the same for almost every broker we speak to.”
