Brokers claimed to write 88 deals a year, the highest number for seven years, as market confidence swells in the period since regulation turned to favour advisers.
A Halifax adviser confidence index, supported by BDRC figures suggested advisers wrote 14% more cases in the last quarter for all customer types, including first-time buyers and home movers.
Advisers are increasingly confident in their own firms and the outlook for the market, following rising demand for mortgage advice and improved business flows. Brokers also report seeing a boost from overall improvements to the wider economy.
Ian Wilson, Halifax Intermediaries said: “With Council of Mortgage Lender (CML) figures for Q2 showing an increase in mortgage activity, brokers report the amount of business they’re writing has also risen. In the post-MMR world, we’re seeing there is now more demand from borrowers for help and advice from intermediaries.
“It’s now up to lenders to support the increased demand for mortgages by stepping up to provide the levels of service required by brokers.”
This week, broker market share rose close to its highest ever recorded at 69% of all UK mortgage completions by value in the first half. This is close to the advice community’s highest-ever market share of 72% by value with 160,900 loans placed in Q1 2008.
This week’s Mortgage Solutions poll asks if brokers feel their importance in the distribution chain is reflected through rising service levels from lenders.
Vote now to have your say.
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.
