IMLA: Business remains steady for advisers despite uncertainty

Michael Lloyd

December 12, 2019

kate davies imla

Case volumes among advisers have remained steady in Q3, despite the political uncertainty, according to the Intermediary Mortgage Lenders Association’s (IMLA) Mortgage Market Tracker.

The average number of Decisions in Principle (DIPs) that intermediaries dealt with in Q3, stayed stable at 28, from 27 in Q2.

Kate Davies, (pictured), executive director of IMLA, said: “Even with deal or no deal, our Mortgage Market Tracker shows brokers are keeping themselves busy.

“From first-time buyers and those with complex circumstances to remortgagors and landlords, consumers are pressing ahead with their housing plans.

“In many cases, they are continuing to rely on the expertise of intermediaries to help them find the best mortgage for their needs.

“It’s unlikely to be a record year for the mortgage market, but as we approach the end of 2019, we can remain confident that the sector is stable and resilient in the face of wider uncertainty.”

A divide in case volumes between the regions is also clear. In Q3 advisers in the north of the UK reported average DIP volumes of 36 while in the south advisers dealt with 25.

Advisers also maintained the number of conversions from full applications to completions between Q3 2018 (72%) and Q3 2019 (73%).

The overall conversion rate of DIPs to completions has also remained stable year-on-year at 48%.

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