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Robyn Hall
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Area Sales Manager - Financial Services - London
North London
Mortgage Consultant / Mortgage Adviser - Fulham
South London
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Advisers plump for protection
18 March, 2008
Over half of advisers expect protection sales to climb in response to market conditions, according to Legal & General's first Confidence Index.
The expectations for the next quarter present a profitable alternative income stream for advisers looking to capitalise on the changing marketplace.
The Adviser Confidence Index also highlighted a growing sense of hope amongst intermediaries, 68 per cent of whom expect business to pick up in the next three months.
This is likely to be down to a surge in remortgaging activity, with one in three expecting the bulk of their applications to be made up of remortgage business.
Most agree that applications for purchase loans will be down and the Base Rate will hold at 5.25 per cent for the foreseeable future.
Stephen Smith, director of housing at Legal & General said: "It is somewhat surprising that almost two in three advisers are optimistic about business in-flows and that a further 24 per cent of them expect business levels to remain constant over the next three months.
"This can be partly attributed to the new prospects that advisers see on the horizon, namely the remortgage market and the protection market.
“Protection is a good prospect because consumers should be looking to protect both their life and their lifestyle with the appropriate cover as the issue of debt and expenditure become an increasing preoccupation for many households.”
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