Mark Roberts, Head of Regulation at ifs said, "We are naturally pleased that Sir James has acknowledged that mortgage intermediaries are an important source of price competition on behalf of consumers. Whilst recognising that times are likely to be tougher in the mortgage market over the next couple of years, as highlighted by Sir James' view that there will be a shortage of mortgage finance until 2010, this does not necessarily mean a lack of opportunities for mortgage brokers.
Figures from the Association of Mortgage Intermediaries (AMI) confirm that 10% more First Time Buyers have sought professional mortgage advice this year than last, with a similar figure for the re-mortgage market. With consumers finding it increasingly difficult to obtain mortgage finance, they are inevitably seeking professional help and there is no reason to believe this is likely to change."
Although the number of people registering to take the industry standard Certificate in Mortgage Advice & Practice (CeMAP®) is slightly less than the record numbers seen in 2007, the ifs School of Finance has reported an increase in the number of people registering to take other qualifications related to the mortgage industry, for example the Certificate in Regulated Equity Release (CeRER) and the Certificate in Commercial Mortgages (CeCM) which suggests a willingness on the part of many mortgage advisers to diversify.
