A new report published by the Intermediary Mortgage Lenders Association (IMLA) shows that the third quarter of 2021 saw advisors process the highest number of applications in six years.
The period from July to September saw mortgage advisors deal with 97 applications on average. This is higher than the number processed during this same period back in 2015 by 2%, according to the Mortgage Market Tracker issued by IMLA.
The general outlook among advisors was at its highest in three years, as 63% told IMLA that they felt extremely optimistic about the future of their businesses. A further 98% told the report that their overall view was optimistic.
Perhaps unsurprisingly given how much work they have been handling, advisors also told IMLA that they felt good about the future of the mortgage sector during 2021 Q3. A total of 46% said that they felt very positive about its prospects, which was another record high, while 97% said that their view of the industry as a whole was optimistic.
There was a slight drop in decisions in principle (DIPs) during July and August, but the numbers rose again throughout September. IMLA stated that this was expected, due to the holiday on paying stamp duty coming to an end.
IMLA then went on to point out that the amount of DIP applications that had actually been approved during the third quarter returned to the levels of the pre-Covid-19 period.
It is no surprise that CeMAP courses remain in high demand, with the careers of qualified advisors thriving.