Strong relationships between lenders and brokers has helped broker sentiment reach an all-time high.
In the latest ‘Broker Beat’ report by specialist lender Masthaven, 90 per cent of brokers said that they feel positive about their firm’s prospects over the next 12 months, with 82 per cent expecting to see their revenues rise.
More than a quarter (26 per cent) of the brokers surveyed said that they expect their revenues to increase by more than a fifth by the end of the year.
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This confident outlook persists despite headwinds such as Brexit. 44 per cent of intermediaries said that the UK’s impending departure from the EU is their biggest barrier to growth in the market, while 21 per cent felt that lending criteria is stifling growth.
However, 77 per cent said that they are confident about the market’s performance in the year ahead – an increase of 26 per cent since 2018. Masthaven’s director of intermediaries Rob Barnard attributed this new-found confidence to “the strong relationships between lenders and brokers”.
“Good lenders have been listening to broker feedback about the market and customer needs and have reflected this in their products and rates – meaning brokers can serve their clients with diversified products whilst boosting revenues,” he said.
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“Brokers continue to be the key that unlocks affordable finance for many borrowers who were previously locked out of the mainstream lending market. Data shows that intermediaries take on 74 per cent of mortgage lending by volume.
“Knowing these brokers are optimistic about the year ahead should fill both lenders and customers with confidence in the market and maintain the high expectations which the specialist market continues to deliver on, year after year.”