fbpx

FSE2014: Lending to eclipse £200bn

Ryan Fowler

September 25, 2014

John Cupis, managing director of Sesame PMS, predicted lending totals of £200bn, Charles Haresnape, managing director of Aldermore expected £203bn, Graham Sellar, head of business development of Santander predicted £208m, while director of mortgages at Legal and General Jeremy Duncombe predicted £210bn.

Cupis said: “I think gross lending this year will be over £200bn.

“10% growth next year will be a good outcome – there are several headwinds next year with the election.”

Haresnape added: “I would say £203bn because at the end of August we have done over £136bn.

“The same period of September to December [2013] was about £67bn so if you assume it will be flat year-on-year that adds up to £203bn.

“Next year I think 10% is about right.”

Cupis reckoned the state of lending is even more positive for brokers than the figures indicate.

He said: “The share of gross lending has been done more by mortgage intermediaries than ever before, so our share will increase of that gross lending.

“Although gross lending might go up by about 5 or 10% you might see the intermediary share grow by more than that 5 or 10% share in gross lending.

“Even if gross lending was flat I think you’d see a bigger share going to intermediaries.”

Graham Sellar and Jeremy Duncombe predicted higher 2014 totals.

Selllar said: “We are going to go £208bn in the market this year.

“We sat there a year ago and we said £200bn market and we expect it to grow to £229m next year.”

And Duncombe added: “We reckon £210bn and we’re going to hang on to that as I haven’t seen the numbers drop off at all.

“I’m working on the basis that our numbers continue to grow as the year goes on.

“In this last year lenders are really pushing for volume.

“There is good competition out there; good rates out there and we can move people into the remortgage space over the next few weeks.”


Sign up to our daily email