Optimism keeps showing up within the mortgage lending market.  This is good news for homeowners that are considering a remortgage in the near future.  It appears that the competitive market between lenders is steadily growing which means that homeowners will continue to see attractive deals being offered.  According to the recent BDRC Continental research conducted for Halifax Intermediaries there was an increasing confidence being expressed by brokers this year in the second quarter than compared to last year.

The study which polled 300 brokers on the overall mortgage industry and issues related to the market and their own business resulted in 70% of the brokers responding with positive viewpoints on the current mortgage lending market and a hopeful outlook.  The brokers revealed they have witnessed an increase in demand from buy-to-let mortgages and remortgages when comparing the overall mortgage lending market to the first quarter of the year.  There was a 7.5% increase in the number of brokers responding with growing optimism in their outlook than those responding the same in the first half of 2011.

Ian Wilson, head of Halifax Intermediaries reported, “Mortgage brokers are a resilient bunch and it is encouraging to see increasing confidence in the sector over the course of the last few years -albeit slowly. However, the economic outlook remains challenging and the mortgage market is still limited, with brokers concerned that whilst an increasing number of products are available, distribution remains restricted.

“In recent weeks, however, confidence has dipped marginally compared to the highs reported in the second half of 2011, as brokers report tightening of lending criteria as a key detractor of confidence.”