30 Jun

Mortgage advisers 'think business will get better'

Mortgage advisers 'think business will get better'

A significant number of mortgage advisers think the property market will improve over the next three months with more people taking out loans, an expert has suggested.

Yesterday (June 29th), the Legal and General (L&G) Adviser Confidence Index for quarter two of 2010 revealed that advisers expect house purchase mortgages to represent 51 per cent of their sales during the next quarter.

Director of housing at the financial services company Stephen Smith said: "Around a third of mortgage advisers think that business will be better over the next three months."

He also stated that 14 per cent of advisers expected there to be an interest rate rise in the coming months, which could have an effect on the number of people taking out mortgages.

Earlier this week, the Council of Mortgage Lenders (CML) suggested that if its members worked more closely with the Financial Services Authority (FSA), the property market would get better as levels of consumer trust would improve among homebuyers. ADNFCR-1222-ID-19866765-ADNFCR

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