Confidence in specialist lending market rises by 12%

Almost a quarter (73%) of specialist lending intermediaries feel confident about the specialist mortgage market’s prospects over the next 12 months – up by 12% from the previous year.

According to Masthaven’s Broker Beat research, 89% of specialist lending intermediaries said they were confident about their own company’s prospects over the next 12 months. This was up 5% from the previous year.

Twenty-seven per cent of specialist brokers expect their topline revenue to increase by 10% to 20% in the next 12 months and over one third (35%) expect the majority of this additional work to come from direct marketing and business activity.

When asked what customer types brokers expect to see more business from in the next 12 months, nearly half of respondents cited specialist finance (47%), suggesting that ‘specialist’ business is fast becoming the ‘new normal’.

Nearly two in ten (19%) expect to see more business from later life borrowers, followed by first-time buyers (14%).

The research also showed that nearly a quarter (23%) of intermediaries said remortgaging is experiencing the most growth, suggesting a growing number of homeowners are seeking to find the best possible deal in a competitive market. This was closely followed by later life lending (20%) and short-term finance (13%).

Masthaven managing director Jon Hall said: “Despite the ongoing uncertainty facing the UK economy, nothing, it seems, can compete with the resilience or dampen the confidence of specialist mortgage brokers.”

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