This compares to the 63% of first-time buyer, 56% of remortgage and 52% of home-mover loans during the final quarter of 2010.
Based on value, remortgaging via intermediaries grew from 59% in Q4 2010 to 63% in Q1 2011. Home-mover lending remained stagnant at 54% while first-time buyer value dropped from 62% to 60% over the same period.
Peter Williams, executive director of the Intermediary Mortgage Lenders Association, said: “Intermediaries play an important role in the UK mortgage market and it is encouraging that despite massive change in the market they still account for the most significant proportion of mortgage business. Intermediaries excel at helping consumers find the right product for their needs adding value to both borrowers and mortgage lenders. They are adept at matching a borrower with a lender, saving time and money for both parties.
“Our members are keen to stress that there are funds available to borrowers in this market and fight the perception that seems to exist amongst certain borrowers and brokers that they won’t be able to obtain a mortgage. Product availability is improving and we are starting to see specialist sectors of the mortgage market more active again. That is important as it helps serve a wider range of mortgage customers and complements the lending already undertaken at the prime owner-occupied level.”
