Mortgage brokers' confidence in business prospects for the next quarter has not improved despite indications the industry may be on the road to recovery, according to the Legal & General Adviser Confidence Index Q4 2009.
Its survey of ARs shows 42% believe business over the next quarter will be flat - broadly consistent with previous surveys in Q2 and Q3. Nearly a quarter believe the next quarter will be worse; up from from 15% in Q3 and 6% in Q2. Stephen Smith, director of housing at L&G, says confidence among mortgage brokers has been declining all year but he thinks there is good news around the corner. He says: "Our message to brokers is ‘keep your chins up or you might not see the business that is out there!' We are in discussions with lenders all the time and there is a feeling in general tha...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
