Confidence in the UK mortgage market is booming.  Not since early 2009 has the market shown so much promise and belief in the market is becoming more contagious, according to the latest Halifax Broker Tracker report.  Intermediaries are quite keen on the market.

Fewer than 5% of all brokers questioned are hesitant about the direction the market is currently going in which is more than a 5% increase on the first quarter of 2014.  It is also more than 10% increase when comparing it to the same quarter of last year.

Ian Wilson of Halifax Intermediaries commented on the latest data, saying: “It is encouraging to see a record level of confidence amongst brokers over the last quarter. Whilst the industry is going through a period of change as lenders, brokers and customers get to grips with the requirements of the Mortgage Market Review, it’s even more impressive that the outlook is so positive that brokers are stoic in their attitudes and outlook for the market.”

The level of confidence in the market going forward is consistent across the board.  All of the brokers responding to the survey believe the prospects for their own firms are favourable which is a significant change from only 85% compared with the same quarter last year.

Remortgages fell off but only marginally during the last quarter.  Home movers have started to ramp up their activity with the warmer weather.  The fact that fewer children are in school will also affect the number of home movers in a positive way.  The number of remortgages will likely go up in the coming months as more house owners make mid-year decisions about finances and see the benefits of a remortgage.