Mortgage broker survey 'shows positive signs'

Date:Friday 8th May 2009
Author: Max Freedman

A recent survey of mortgage brokers showed positive signs, it has been claimed.

Earlier this month, Paragon Mortgages reported that advisers expect to do an average of 3.6 per cent more business in the second quarter of this year than they did in the first.

This was the first predicted increase since the third quarter of 2007.

Responding to the figures, Andy Pratt, chief operating officer at Alexander Hall, said: "We are finding that part of the market is showing some very positive signs for quarter two and hopefully the rest of the year."

According to Mr Pratt, there has been a pick-up in the number of mortgage applicants and the number of those interested in buying.

However, the expert went on to suggest that other areas of the mortgage market are still suffering.

He identified the buy-to-let and remortgaging markets as "very tough" and claimed that lending in the sub-prime sector is "effectively closed".