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Brokers quietly optimistic despite tough year ahead – poll result

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  • 24/01/2019
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Four in ten mortgage brokers believe they will be more successful in 2019 than last year, although hard work and focused strategies are needed for benefits to be realised in a tough market.

 

Mortgage Solutions polled brokers on whether they expected their business strategy to bring higher rewards in 2019, with 40.3% replying positively, while only six per cent predicted a drop.

Around 35.8% said that they were unlikely to see higher rewards this year as it will be a tough market to beat.

Meanwhile, 17.9% of brokers did not know where their business was headed in the next 12 months.

Chris Fyfe, mortgage broker at Bluesky Mortgages, said due to the uncertainty around Brexit it was likely to be a tough market throughout 2019.

“As new purchase activity may be affected, we will be working with our existing clients, being focused on remortgages and protection.”

Fyfe revealed that he has already talked to a number of lenders about protection, predicting that more brokers will follow him in the near future.

 

Good time to purchase

However, UK Adviser chairman Stephen Cohen said whichever way Brexit goes, the mortgage market would not necessarily be affected and that it was important to stay positive.

“My main priority is to understand clients’ needs, reacting quickly to their requests. Now more than ever, clients need confidence and clarity from advisers.

“As long as more houses become available, we think that first-time buyers may become a good opportunity for us.”

Alex Smith, senior mortgage and insurance adviser at Capricorn Financial, agreed with Cohen, showing his optimism for this year.

He said that even if the data for the first two weeks of the year have not been encouraging, this is a good time to buy properties.

He added: “We will improve on what we do, being on top of the customers’ changes, as well as looking for new opportunities to bring more clients on board.”

 

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