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Most mortgages in the UK arranged via intermediaries say experts

21/07/2009


Mortgage experts have said that most of the UK mortgages arranged have come via intermediaries.

This type of lending accounted for 64 per cent of the market during the first 4 months of 2009 according to the Intermediary Mortgage Lenders Association (IMLA).

70 per cent first-time buyer loans were also arranged through intermediaries during the first 3 months of 2009, in comparison to 58 per cent of home mover mortgages.

Peter Williams from the IMLA commented: "There will be many challenges ahead but in our view the intermediary market will remain at the heart of mortgage distribution."

On the other hand, Peter Williams said: "Brokers will have to work hard for business as a result of the reduced size of the market."


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