The survey found 61 per cent of brokers felt the typical mortgage seasons, with high and low volumes of business, had disappeared, as evidenced by consistently high lending throughout the past year. Of the 200 brokers questioned, just 37 per cent disagreed this was the case. 2 per cent were undecided.
Mehrdad Yousefi, head of intermediary mortgages for A&L, said: “Anecdotal evidence suggests that the traditional mortgage seasons may have somewhat disappeared judging by the buoyant conditions in the market over the last 12 to 18 months. However, a significant minority will always prefer to look for their home in Spring, when the weather is warmer and the evenings are lighter.”
Darren Pescod, managing director of The Mortgage Broker, commented: “The only time our business is quiet is the Christmas period, when people don’t want to make any major financial decisions. Otherwise, we see steady business throughout the year. People used to say that August was quiet, as people were away on holiday, but we don’t see that. It’s a good thing mortgage seasons have disappeared, because business levels stay the same and we can plan and make forecasts for the year.”
