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Brokers still searching for sub-prime deals
8 May, 2008
A recent survey compiled by the BDS Mortgage Group has revealed that despite current market conditions, sub-prime deals remain firmly on brokers' agendas with 40% reporting that it accounts for 10-30% of business volumes.
25% of those surveyed reported that the sub-prime market accounted for less than 10% of business volumes while 15% stated that it accounted for 30-50% and 10% said it accounted for 50-75% and 75% plus of their business volumes respectively. The survey also showed that more than a third of brokers highlighted that receiving more advice on obtaining and maximising opportunities from mortgage leads would lead to increased business and cross sales income.
Bob Hope, sales & marketing director at BDS, said there was no hiding from the fact that the choice and volume of sub-prime deals had greatly reduced. He commented: “However this survey shows that there is continued demand and an increasing number of brokers are still using packagers in this sector.”