2 Feb

Mortgage brokers 'have positive outlook for 2010'

Mortgage brokers 'have positive outlook for 2010'

UK mortgage brokers believe that 2010 will be a positive year for the industry, new research has revealed.

Platform's Intermediary Outlook Survey interviewed professionals in the sector about their predictions for the year ahead.

The company found that 66 per cent of respondents expect 2010 to be a better year than 2009, with almost three-quarters (74 per cent) anticipating house price increases of up to five per cent over the next 12 months.

Many of those polled also believe that the base rate of interest will rise by half a percentage point this year to reach one per cent.

The Bank of England has held rates at 0.5 per cent since March 2009 in a bid to stimulate the economy alongside its programme of quantitative easing.

Commenting on the findings, Dave Tweedy, director of Platform, said: "The research has shown that intermediaries are confident that the next 12 months will be positive for the market and that the sector is ready to do business."ADNFCR-1222-ID-19593522-ADNFCR

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