Mortgage brokers increased their market share by 2% in Q1 2010, advising on 62% of total mortgage lending according to figures just released by the the Financial Services Authority and the Council of Mortgage Lenders. The Intermediary Mortgage Lenders Association has taken this further by calculating that brokers accounted for 62% of total mortgage lending both by value and volume in Q1, up from a 60% market share in Q4 2009. Broker activity was particularly strong among first-time buyers with 71% of loans by volume in the first three months of the year.
The above reinforces the message we try to spread. For whole of market advice to secure the most appropriate deal, especially in these more frugal times, your best bet is to talk to an independent mortgage broker. In short, someone like me who can trawl the thousands of products available to get the right one for you.