Mortgage News
MS Poll result: New build uninteresting to 80% of brokers
In the latest Mortgage Solutions poll, 80% of brokers said that housing minister Grant Shapps’ enthusiasm for new build will not bring them more business.
A further 20% of brokers disagreed, viewing the sector as an area to branch out into and do more business.
Nigel Stockton, financial services director at Countrywide, said: “It’s surprising to hear the results of the poll as nearly all the major house builders use a short panel of brokers.
“In addition, estate agency distributors often invest heavily in building relationships with house builders and developers to secure business in both sales and lending.”
In May this year, Countrywide launched a specialist financial advice service for the new homes sector.
Stockton added: “We believe the new homes sector is, and will continue to be, an area of significant growth as the market improves, especially with the introduction of FirstBuy Direct.”
Episode 4: New Build: Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
Raymond Connor, chief executive officer of BuildStore Financial Services, said: “For some brokers, there’s currently not enough business in this sector for them to garner any specific expertise or to specialise in this area. However, brokers who seek out the opportunities will see that they can generate business through self build, a sector which is set for significant growth.”
He added: “Through BuildStore’s intermediary arm, BuildLoan, we work with brokers to offer exclusive self build mortgages for their clients.”