Commenting, Stephen Smith, Legal & General’s director of housing, said: “There seems to be a renewed optimism for the housing market with over 85% of advisers predicting that business will improve or at least stay the same over the next 3 months.
“The view of the split between purchase and remortgage business is more divided with nearly a quarter of advisers believing that 90% of their business will be for house purchases, while another quarter thinks this will only be 70%.
“Interest rates were held again by the MPC in September and the forecast for any change now looks unlikely until well into 2011. Most industry commentators and economists believe that with confidence in the economy in the UK and abroad remaining low and fears of a double dip recession still strong, base rates will not move
“The feeling for sales of protection is good with over 56% of advisers now thinking that they will sell more in the run up to Christmas. This is up from 42% in Q2.
“So, as summer fades to a distant memory and despite continued gloomy forecasts for the housing market, concerns over lending and regulation, it is clear that advisers are feeling upbeat and are determined to start the new season on a positive note.”
