The Intermediary Mortgage Lenders Association (IMLA) has reported a steady rise in the number of intermediary mortgage cases over the past nine months, returning to an average of 87 per year, close to the highest levels seen in Q2, 2018 (average of 90 per year).
The industry body found that 91% of UK intermediaries remain positive about the outlook for the mortgage industry, despite ongoing political uncertainty.
IMLA found that sentiment among UK intermediaries has remained positive in the second quarter of 2019. When asked about the outlook for the intermediary sector, 93% of intermediaries felt it was positive and 55% were ‘very confident’ about the outlook for their own businesses.
Despite structural changes in the market which may signal future moves towards more technologically advanced selling processes and non-advised (execution-only) business, intermediaries have stated that case load volumes have continued to increase steadily. Over the last three quarters, activity has risen to an average of 87 cases per year, closing in on the highest levels seen since the second quarter of 2019.
In total, 66% of intermediary activity was made of up residential cases, including remortgaging, first-time buyers and movers.
Kate Davies, executive director of the Intermediary Mortgage Lenders Association, said: “It’s clear that most intermediaries feel very positive about the outlook for the UK mortgage sector and it’s no surprise to us that demand has continued to remain strong. There is a huge range of products out there and intermediaries can give borrowers a great service, helping them to negotiate their options and find the right product.
“Consumers’ circumstances are also becoming increasingly complex and intermediaries are ideally placed to help identify products offered by specialist lenders to help access the finance they need.”