9 in 10 mortgage applications via brokers leading to offers

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Nine in 10 (88%) mortgage applications through intermediaries went to offer in the second quarter of 2017, the Intermediary Mortgage Lenders Association’s Mortgage Market Tracker has found.

This represents a rise from 75% in the second quarter of 2016.

Peter Williams, executive director of IMLA, said: “The percentage of successful applications continued to grow across the board, a testament to the ability of the intermediaries to match consumers with suitable products in what is an increasingly complex marketplace.

“With house price rises softening and easing affordability pressures, borrower demand and lender supply remains unwavering, heightened by increasingly competitive residential and buy-to-let LTV pricing.

“Greater choice means that, for intermediaries, it is perfectly possible to match a wide range of aspiring homeowners and movers to suitable finance without compromising on rigorous assessments of borrower capacity to service their mortgage underpinning the market.”

First-time buyers in particular are becoming more successful, with 88% of applications coming to offer in Q2 2017 compared to 71% in Q2 2016.

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Written by: Houseladder