Specialist lending is on the increase
SMART tracks the confidence and general sentiment of intermediaries operating in the specialist mortgage markets.
The full findings from the third regular BM Solutions SMART index are:
• Self-certification mortgage cases continue to be the strongest specialist mortgage product amongst intermediaries – accounting for 22% of all cases introduced. An increase of 3% on the half-year findings published in the SMART index.
• Compared with the mid-year survey, sub-prime cases rose from 8% to 10%. Buy-to-let held steady accounting for 12% of all cases introduced by intermediaries.
• Mainstream cases fell slightly from the last survey from 58% to 54%.
Commenting on the survey, Michael Bolton, director of mortgages at BM Solutions, said: “It is interesting to note the increase in self-cert cases during this survey period. Brokers are increasingly aware of the benefits of self-cert for their clients; it remains extremely valuable to mortgage advisers, being perfect for people who have an irregular income.”