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FCA: Q2 intermediary mortgage share at 67%

by: Mortgage Solutions
  • 01/12/2015
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FCA: Q2 intermediary mortgage share at 67%
Financial Conduct Authority figures confirm mortgage advisers placed 67% of the mortgage market in Q2 this year, as consumers continue to stretch affordability and borrow higher mortgage sums.

Last month, Legal & General’s director of housing partnerships Stephen Smith said mortgage adviser share could even hit 85% last month as market factors including the Mortgage Market Review aligned to boost the sector.

The latest mortgage sales product data confirmed the proportion of new lending advanced with a loan-to-value (LTV) of between 90 and 95% rose from a share of 6% in Q2 2014 to 9% this year.

Similarly lending volumes with a LTV between 85% and 90% hit a post-2008 peak in Q2 this year.

The latest lifetime mortgage sales data saw a small boost to Q2 in 2014, rising to 23,271 sales or an increase of 3,222 loan on the same period in 2013. However, this is still just 2% of all mortgage sales. These sales are being driven by higher numbers of older borrowers releasing equity from their homes.

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