Lenders expect broker numbers to shrink further in 2009

Although all IMLA members believe the Bank of England's quantitative easing programme will help to stimulate new mortgage lending, two thirds of member lenders said they expected the broker market to shrink in 2009. The body said lending via intermediaries had come down from its peak of 77% of all mortgage lending in Q1 2008, to 62% in Q1 2009. This is still significantly higher than the Association of Mortgage Intermediaries' (AMI) prediction that lending via intermediaries would account for just 45% of the market this year. Peter Williams, executive director of IMLA, noted the mortgage ...