Brokers overwhelmingly buoyant in Q1
In the first quarter of 2015 the average number of cases per intermediary was 77, the third highest figure since records began.
Over the same period 99% of brokers were confident in the success of their own firm, while 93% were optimistic regarding the outlook for the intermediary sector and the mortgage market.
Ian Wilson, Halifax Intermediaries said: “The supply side environment is very good for brokers at the moment, with more lender competition, prompting better rates, greater product choice, and higher LTVs.
“Confidence in the market is now almost back at pre-MMR levels and the outlook for the rest of the year is positive.
“But as activity increases lenders are going to have to improve service levels to match. We understand this and have been embedding our service excellence proposition since the start of the year.
“This is evolving quickly and we are currently rolling out a document upload facility in response to market feedback.”
Previously in the fourth quarter of 2014 brokers dealt with 72 cases, 88% were confident in the intermediary sector and the mortgage market while 97% were confident regarding the outlook of their own firm.
Other reasons for increasing confidence as brokers suggested were improved rates, products and LTVs and the Mortgage Market Review for increasing the demand for advice.