Broker confidence took a significant hit during Q2 of 2010, with two-thirds predicting business will either stagnate or fall in the next three months, according to L&G research.
It reveals only a third of brokers believe business will get better in the coming quarter, compared to over 50% in Q1. The majority of brokers (54%) predict sales will be flat in Q3, while 12% expect things to get worse. Nevertheless, the 122 brokers polled expect house purchase mortgages to make up 51% of their sales in the next quarter; the highest level since the index began in 2008. By comparison, remortgage business is expected to be 31% which is the lowest level recorded since the start of 2008. Meanwhile, the number of brokers predicting an interest rate rise in the next qua...
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