Mortgage business soars to highest point in 13 years

Peter Brodnicki said the record growth of business over the past 12 months, up 82 per cent in July from the same month last year, was down to increased investment in broker and networks, as well as an “improving economic landscape and unprecedented demand”.

Since January, mortgage applications have shot up by 51 per cent compared to the same period in 2012, with this year’s applications set to overtake total business for 2012 by the end of August.

Mr Brodnicki said: “The newfound momentum in the mortgage arena is visibly attracting more borrowers, helped by government initiatives including the Funding for Lending Scheme and Help to Buy.

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“Both purchase and remortgage activity have dramatically improved and the latest residential market survey from Rics shows consumer confidence continues to rise. Consumers are also increasingly turning to brokers to help navigate the range of options open to them.”