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Brokers upbeat despite political uncertainty

Mortgage brokers are confident they can weather the storm of Brexit and a general election, the Intermediary Mortgage Lenders Association (IMLA) has found in its latest Mortgage Market Tracker.

Some 91% of intermediaries said they were either ‘very confident’ or ‘fairly confident’ about the outlook for the mortgage industry.

An even higher proportion (95%) is confident about the outlook for the intermediated mortgage sector and their own businesses.

Kate Davies, executive director of the Intermediary Mortgage Lenders Association, said: “Continuing political uncertainty has failed to dent the confidence of mortgage brokers.

“Intermediaries remain confident that they are well-placed to weather the storm of political uncertainty.

“Brokers are upbeat about the prospects for Britain’s mortgage market.”

Gross lending on all mortgages has increased each quarter since Q1 2019, reaching £70.4bn in Q3 2019, according to the Bank of England.