MortgagesFeb 27 2015

Mortgage broker confidence rising again: Halifax

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Mortgage broker confidence rising again: Halifax

Almost all mortgage brokers were confident in the outlook for their own firm, according to Halifax’s latest quarterly tracker, up 1 per cent on the third quarter last year and 3 per cent on the fourth quarter of 2013.

The tracker revealed 97 per cent of brokers were confident in the outlook for their own firm in the first three months of this year and now have a more positive outlook towards the mortgage market in general, with 88 per cent expressing confidence in the fourth quarter.

After a confidence dip in Q2, broker confidence has been building, with figures in Q4 closer to the record highs of Q1 2014.

The increase in confidence was largely due to increased business levels, as well as growing confidence in providing advice to customers following the Mortgage Market Review.

Those brokers who felt ‘fairly’ confident rather than ‘very’ confident stated that this was partly due to current growth projections, with the February inflation report forecasting a first interest rate rise towards the end of 2015.

Ian Wilson, head of Halifax Intermediaries, said that the economic recovery helped boost employment and wages, in turn boosting consumer confidence, which encouraged greater activity in the mortgage market.

“With an increase in business levels in the intermediary sector, broker confidence in the intermediary market and, crucially, their own business is moving closer to the highs we saw prior to the introduction of MMR regulations in 2014.”

Earlier this week Halifax revealed that house price optimism fell to its lowest level for 18 months in January, as lending got off to sluggish start.

peter.walker@ft.com