Mortgage brokers 'need to show more confidence'
2010-09-02 10:48
Mortgages, mortgage broker
In the aftermath of the global economic downturn, confidence returning to the mortgages market will be able to set it back on track, claimed an industry expert.
Catherine Hearnden, director at MyMortgageDirect, pointed out rather than the market actually being down, it was the general pessimism of mortgage brokers and providers that had had an impact on business.
People started believing the talk of a slow market and behaved in a way that actually affected the mortgage lending business, she explained.
"If we can just get a little spark of confidence back then I think it will be fine. It will be a steady rise. There will be the odd dip but we shouldn't read too much into the odd dip because we've always had seasonal dips anyway," she added.
Her comments follow in the wake of recent statistics made public by the Bank of England which indicate that the total amount of money being lent to individuals only slightly improved to £0.1 billion in July, compared to net increase of £0.5 billion in June.
Mortgage Broker - Ashall Glover Financial Services
Posted by Stephen Campbell
