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IMLA forecasting business boom for mortgage advisors this year

The Intermediary Mortgage Lenders Association (IMLA) has released a new report looking at the prospects for the market this year, and it is forecasting a boom in business for advisors.

In the report entitled ‘The New Normal – Prospects for 2025 and 2026’, IMLA predicts a considerable growth in mortgage lending during the year. It is expecting the gross lending total to rise from the £237.5 billion figure for last year to £275 billion. That would represent growth of 16% year-on-year. It then forecasts further growth of 11% for 2026, which would take the gross total to £295 billion.

IMLA is also stating that it believes mortgage advisors will benefit from this growth. It is predicting a surge in the volume of business conducted with the help of advisors. That stood at 87% for 2024, but the report suggests this will rise to 89% during 2025. It then forecasts a further rise to 91% during the following year.

Reasons that IMLA cites for its expected growth in lending are rising demand for remortgage deals, as well interest rates coming down. It is indicating that affordability will become less of a worry for people, but also making it clear that the very low rates from the recent past will not return.

Kate Davies from IMLA said that advisors would have a crucial role this year in assisting people to locate products that meet their individual circumstances.

This is a forecast that anyone who has CeMAP mortgage advisor training will find highly encouraging as they move into another year.

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