FSA and Council of Mortgage Lenders figures show that mortgage lending via intermediaries accounted for 62% of total mortgage lending, both by value and volume, in the first quarter of 2010. This compares to 60% for both measurables during the final quarter of 2009.
Intermediary lender trade body IMLA has welcomed the figures, claiming they show the sector continues to dominate the UK mortgage lending market.
71% of first-time buyer loans, by volume, were introduced via intermediaries in the first quarter of 2010, the highest proportion since the second quarter of 2009. By value, the figure rose from 67% in the fourth quarter of 2009 to 69%.
Meanwhile, intermediaries introduced 57% of home mover loans, by both volume and value, and 64% of remortgages by value and 61% by volume.
Peter Williams , IMLA’s executive chairman, said: “House purchasers and those looking for a remortgage value the service that the mortgage broker community provides and that is why they remain the first destination for many when looking for a mortgage.
