Brokers expect improvement in protection business

Published on

Legal & General’s Adviser Confidence Index Q3 2009 has reported that the average broker expects house purchase mortgages to represent 43% of their overall mortgage business, the highest figure that L&G has recorded.

However, remortgaging is still subdued, with activity dominated by the lower end of the LTV curve.

49% of advisers expect their protection business to get better over the next quarter, but this is down from 56% last quarter. 41% of advisers expect sales to be flat over the next three months 10% expect them to get worse.

43% of advisers expect business to get better over the next quarter – lower than the previous two quarters. 42% of advisers expect sales to be flat over the next three months 15% expect them to get worse.

Stephen Smith, Legal & General’s director of housing said: “Confidence had been relatively stable in the first half of this year but has now taken a small dip. Fewer than half of mortgage advisers that we polled feel that business will get better over the next quarter and 15% now feel it will get worse. This may be as a result of the lack lending (at reasonable rates and realistic loan-to-values) coming through from banks and building societies despite the Bank of England’s continued programme of quantitative easing. Whatever the case

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...