Intermediaries remain confident in market’s prospects

Intermediaries remain confident in the mortgage market’s prospects for the next 12 months despite the ongoing coronavirus crisis, according to research from Masthaven Bank.

The lender stated that 71% of intermediaries had indicated in a survey they were either confident (65%) or very confident (6%) in the market’s prospects for the next year, while 25% had suggested they were unsure.

The survey, conducted earlier in the month by Masthaven amongst more than 200 intermediaries, revealed that just 3% of intermediaries said they were not confident in the market’s prospects for the coming year.

Masthaven’s research found that a slim majority (51%) of specialist lending intermediaries are now using video calls to liaise with their customers, while 42% are sending regular email updates. The survey also suggested a small proportion of brokers have introduced live chat platforms on their websites (4%) or extended their opening hours (2%) since the start of the pandemic.

Masthaven director of intermediaries, Rob Barnard, commented: “Broker confidence is holding up well and that’s such an important part of the market, as it directly feeds through into the conversations intermediaries are having with customers.

“Now that the housing market has reopened and with the news that mortgage payment relief may be extended to help those customers in need, it’s good to see positive sentiment for the next twelve months from the intermediary community.”

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