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More brokers diversifying
Over the last 6 months there has been a continual decline in the proportion of brokers' business coming from mortgages, according to results of the Association of Mortgage Intermediaries' (AMI) latest mortgage intermediary barometer
The survey shows that now the average proportion of brokers' business coming from mortgages is 55% versus 65% in April, as it is replaced with other products and services.
Chris Cummings, director general of the AMI, said: "There are clearly still real difficulties in the market and intermediary firms are looking at how they can weather the storm. To assist firms we ran a series of diversification workshops in September to help broaden their business base. This is going to be very important for members to continue to assist their clients over the longer term."
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