Number of mortgages submitted through brokers close to record high
The number of mortgages being submitted through brokers is close to the highest ever level, with adviser-introduced loans accounting for 69% of new mortgages. Back in 2009 the figure was as low as 46.7%.
Data from the Council of Mortgage Lenders shows that the broker share of the market has increased by over 7% in the past year, from 61.9% in Q2 2014.
A leading mortgage industry spokesman told Mortgage Strategy magazine: “It is much tougher to get a mortgage these days, so anyone trying to do it on their own will generally come up against too many barriers.
“The other thing is, over the last few years, all we have heard about is bank mis-selling, so I don’t think people will trust that they are going to get the right advice.”
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