Brokers expect short-term lending expansion

82% of brokers surveyed by Precise Mortgages during its recent roadshows believe that the short-term lending market will grow next year, with Edinburgh and London most positive at 90% and 85% respectively.

82% of the brokers cited that the growth would partly be driven by the continued restrictions on the availability of finance from high street banks.

57% argue that the growth in the private rental sector will continue to grow the short-term market with, again, Edinburgh being most optimistic at 79%.

56% said that they believe more brokers will start to operate in the sector as a result of the growth.

69% also believe that high street lenders are deliberately restricting business via intermediaries with London brokers being especially annoyed at 79%.

Alan Cleary, managing director of Precise Mortgages, said: “We are going to continue to speak out on behalf of the mortgage intermediary as there is going to be a battle with high street lenders over the next few years for market share.