A recent survey conducted by mortgage network, HLPartnership, (HLP) saw around 90% of its members expressing optimism about prospects for the mortgage market in 2024.
HLP says its survey results indicate a strong belief in the market’s resilience and growth prospects. Brokers cite several factors for their optimistic views, including improvements in market processes, increased adaptability in face-to-face interactions, and a general sense of recovery and growth after a challenging 2023.
The network said the results show the market’s resilience and potential for growth, particularly following the challenges of previous years. The general consensus points towards a market that is not just stabilising but will expand in 2024.
It also believes it shows a recognition that client interaction will continue to evolve with face to face meetings still pre-eminent but backed up by more online activity.
In addition, many respondents noted that technology will play a greater part in pushing the market forward through the streamlining of processes fostering a more efficient and client-centric market environment.
Martin O’Callaghan (pictured), head of marketing at HLPartnership, said: “Our brokers are working at the coalface and their insights are invaluable to us. The positive sentiment captured in the survey is a testament to their resilience, expertise and foresight. It’s not just about recovery; it’s about growth and the exciting opportunities that lie ahead in the mortgage market for 2024.
“The survey reflects the underlying strength and adaptability of the mortgage market. Our brokers’ positivity is grounded in real market dynamics and their understanding of industry trends. It’s a clear indication that 2024 holds promising opportunities for both brokers and clients alike.”
