Legal & General mortgage advisors 'confident about future'

Date:Wednesday 30th June 2010
Author: Max Freedman

People hoping to buy a home soon may be pleased to hear that many Legal & General mortgage advisors are predicting a bright future for the housing market.

The organisation recently released its confidence index for the second quarter of 2010 and it showed that about one-third of advisors believe business will pick up over the next three months.

Commenting on this news, director of housing at Legal & General Stephen Smith highlighted how this figure has dropped since the first quarter of the year.

But he also noted that house purchase mortgages could represent 51 per cent of sales at the firm.

"This is the highest level since the index started at the beginning of 2008. Remortgage business is forecast to be about 31 per cent - the lowest level since the start of 2008," explained Mr Smith.

Earlier this month, Legal & General handed out four awards to Halifax Intermediaries at its Mortgage Club Awards for the services the lender provides.