According to recent research, financial advisers are enjoying growing commissions for the mortgage business they generate.
The report, based on the opinions of advisers about the current and future trends in the market, revealed that almost 96% of advisers now receive fees from lenders.
The total number of lenders mentioned as having paid commission was up 6.6% from March this year.
On average, intermediaries are receiving over £500 per case for nearly 30% of their business. Lenders are now paying an average of £428 per case to advisers who introduce a client, an amount that has increased by 17.5% in the last six months alone.
Commenting on the research, Nicola Severn, communications manager at Paragon Group, said: “Intermediaries are an essential element of the mortgage industry, providing independent advice to borrowers and helping them choose the right mortgage product to meet their personal circumstances. This research also suggests that intermediaries are also doing very good business with an increasing proportion of borrowers consulting them before taking out a loan.”
