Around one in five advisers believe gross lending will surpass £251bn in 2024, indicating a more cautious optimism about the market.
According to a TMA Club survey, a further three in five believe gross lending will be between £220bn and £250bn.
UK Finance figures last year showed that gross lending came to £226bn, which is 28% down on the prior year figures.
The trade body forecast a further fall this year, with gross lending coming to £215bn.
Lisa Martin, TMA’s development director, said: “Inflation fears are receding faster than the Bank of England had been expecting, and the latest indications from the governor Andrew Bailey suggest we may see a base rate cut later in the year.
“That shift in the first three months of this year has boosted borrower confidence, and advisers are seeing more engagement.
“There are still affordability pressures, but lenders are definitely pricing to take market share and that’s keeping activity up.”
The survey also found that brokers were underwhelmed by the Spring Budget, with around 95% saying that nothing announced would help borrower affordability, and those remortgaging this year would face the same challenges.
Brokers suggested that stronger lending was likely to come from the purchase side of the market.
Martin continued: “There is evidence that the housing market is back on track and brokers are seeing a rise in the number of clients looking to purchase, while remortgage activity remains steady.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
