Data shows confidence rising among mortgage advisors

August 16, 2024 by Brendan O'Neill

Surveys and Statistics

Newly released data indicates that levels of confidence and optimism about the future of the mortgage industry among advisors have now returned to their normal levels.

This data was provided by the Intermediary Mortgage Lenders Association (IMLA). Of the mortgage advisors it spoke to, 29% stated they considered themselves to be ‘very confident’ about the prospects for their chosen industry. A further 65% said they felt ‘fairly confident’ about how things would go for the industry in the future. When it surveyed them during the opening quarter of the year, the figures were 24% and 62% respectively.

When it comes to how advisors feel about their particular part of the industry, 94% told IMLA they felt either ‘fairly confident’ or ‘very confident’ concerning the future. During the first quarter of 2024, that figure was 88%.

In terms of individual businesses, 54% of advisors said they felt ‘very confident’, while 43% considered themselves to be ‘fairly confident’ about their chances of growing their companies.

One likely reason why advisors are feeling more bullish about the industry is increased levels of business. The average number of mortgage applications they dealt with during the first six months of the year was 102.

The last time it was that high was three years ago. Kate Davies from IMLA said the figures showed the most optimism within the industry for a long while.

One result of this is that more people will seek out a CeMAP training company to qualify as advisors.