Mortgage advisors report increase in confidence

Date:Thursday 11th June 2009
Author: Max Freedman

Advisors are becoming increasingly confident about the health of the UK's mortgage market, it has been found.

Research conducted by Legal & General discovered that more than half of such industry practitioners polled predicted that mortgage business will get better over the next three months.

A further 40 per cent anticipated that market conditions will remain the same over this time.

The survey also revealed that remortgage activity is expected to remain steady, with a quarter of advisors suggesting this will make up around 20 to 40 per cent of their business.

Legal & General said: "More advisors are predicting higher levels of house purchase business than at any time over the past 18 months.

"For instance, 18 per cent of advisors, almost one in five, say that 60 to 80 per cent of their mortgage business will be house purchase mortgages."

Earlier this month, Sue Anderson, head of member and external relations at the Council of Mortgage Lenders, predicted that the number of mortgage approvals in the UK will rise next month.