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31st Jul 2009
Broker confidence on the rise
Broker confidence on the rise
Brokers are becoming more confident in both the future of the mortgage market and the prospects for their own businesses, according to a survey by NMG.
The financial services consultancy polled 400 brokers between April and June as part of its Mortgage Barometer survey.
It found that 27% of brokers are more confident about the mortgage market than six months ago, compared to just 3% who said they were more confident this time last year.
Some 29% reported an increasing confidence in their businesses as a result, up from 8% last year.
The proportion of brokers who believe their annual income will increase in the next three months has doubled from last June, going from 16% to 32%.
The latest survey shows that the number of positive brokers now equals those who are less confident about the market, rather than the dominant negative feeling among brokers the barometer has recorded over the last year.
David Burns, director at NMG, says: “Although it is early days, these are encouraging signs from the broker community.
“Brokers are still calling for improvements in rates and LTV criteria and if the market can deliver these we would expect to see confidence levels improve further.
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