However the Association believes that brokers have a key role to play when it comes to mitigating against the number falling into arrears, largely when it comes to counselling and advice for the future.
Almost half of respondents to a survey embraced the idea that they could lend a hand to borrowers, however 38 per cent said 'it's not our role'.
Those that were geared up to help their clients said that they would be keen to liaise with the lender or give general advice, alongside finding a cheaper source of borrowing for the individual.
While a small proportion of respondents believed that lenders should pay a fee for such support, most believed the most important role a lender could play in the matter would be to provide notification of the problem at the earliest possible point.
“Intermediaries are able to provide a higher level of expertise and independent advice to borrowers than they could find elsewhere," said Peter Williams, IMLA’s executive director.
"Lenders generally will welcome the greater involvement of brokers, although it must be stressed that for borrowers who are struggling to pay, dialogue with their lender is essential. Hoping the problem will go away won’t help anyone.”
Over half of brokers believe arrears will be around 10 per cent higher this year, with most problems being felt within the non-conforming sector.
