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Found across the length and breadth of the UK, mortgage intermediary firms are often small businesses that play a big part in the property sector.
We commissioned research to find out more about the people and companies that make up the mortgage intermediary profession, with the resulting Mortgage Intermediary Insight Report created to provide insight into the businesses that provide a vital link between mortgage lenders and borrowers.
Moray Hulme, Managing Director for Mortgage Sales, introduces the Mortgage Intermediary Insight Report below. Download the report here.
We see that in many cases the intermediary role is a varied one, covering the residential and buy-to-let markets, as well as more specialist lending. In addition to a working knowledge of finance products on offer and lender criteria, the best brokers are in tune with the latest economic developments, emerging market trends and any impactful changes to regulations.
The result is a valuable source of insight into the current and future property markets. Intermediaries have been busy of late, with many firms at or near capacity and reporting healthy profits. This reflects elevated levels of business seen since midway through 2021.
Interestingly, intermediaries tell us that the majority of the business they place is from repeat customers. This suggests that many clients see intermediaries as central to sourcing and securing finance, highlighting how important it is to build lasting relationships.
The strong business levels experienced by intermediaries have led to confidence in different aspects of the mortgage industry with prospects rebounding robustly following the dip seen at the onset of the Covid pandemic.
In addition to the recent purchase activity, influencing this positive outlook is a swathe of remortgaging as many 5-year fixed rate buy-to-let products, made popular in 2017 following changes to Government policy, reach maturity.
Alongside this grasp of current conditions is an understanding of the fundamental principles underpinning the sector and wider economy; it seems that many intermediaries see property as a proven asset class that represents a relatively stable long-term investment choice, an assessment I agree with.
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Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551