18
May
Property buyers 'continue to trust mortgage intermediaries'
Consumers buying homes in the UK continue to place their trust in
loan intermediaries, it has been claimed.
According to the Intermediary Mortgage Lenders Association (IMLA),
such professionals still dominate the lending market.
The organisation - a trade association that was formed in 1998 -
made its comments following the release of figures by the Council
of Mortgage Lenders, which showed that lending via intermediaries
accounted for 62 per cent of all such transactions during the first
three months of this year.
First-time buyers were particularly keen to make the most of this
type of third party service, with 71 per cent of all property loans
taken out by them going through intermediaries.
IMLA executive chairman Peter Williams said: "House purchasers and
those looking for a remortgage value the service that the mortgage
broker community provides and that is why they remain the first
destination for many when looking for a mortgage."
He went on to suggest that there continues to be a scarcity of
property loans available.
