Mortgage brokers 'expect surge in business'

By Jonathan Dawes, Wed 4 Aug 2010 - Published in Mortgages

The UK's mortgage brokers expect to see an increase in business over the third quarter of the year, it has been found.

According to Paragon Mortgages' Financial Adviser Confidence Tracker survey, industry members believe that mortgage business will rise by 7.2 per cent quarter-on-quarter during the July to September period.

The poll showed 58 per cent of financial advisers think that mortgage activity levels will go up over the quarter and only three per cent think they will fall.

In addition, 34 per cent expect their mortgage business to increase by up to ten per cent, while 24 per cent are predicting that growth will exceed this.

John Heron, managing director at Paragon Mortgages, commented: "Mortgage brokers appear to be confident about the short-term future of the mortgage market, which is a positive sign as they are the ones on the ground talking to borrowers."

Alexander Hall chief operating officer Andy Pratt recently claimed that tougher lending criteria have made the UK's mortgage market more complex and recommended people use a mortgage broker.

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