Direct mortgage lending has 'bottomed out'

The figure - which takes in both value and volume - has risen from 60% in the final quarter of 2009, according to IMLA. First-time buyers in particular have sought advice and help from brokers with 71% of first-time buyer loans, by volume, introduced via intermediaries in the first quarter of 2010; the highest proportion since the second quarter of 2009. By value, the figure rose from 67% in Q4 2009 to 69%. Meanwhile, intermediaries introduced 57% of home mover loans, by both volume and value, and 64% of remortgages by value and 61% by volume. Peter Williams, IMLA's executive chair...