Despite the challenging economic environment, mortgage brokers remain positive about the outlook for their business volumes over the next 12 months, according to new research from Pepper Money.
The study, conducted among more than 500 brokers, revealed that 41% expect their business volumes to increase, 26% believe they will remain the same, and only 33% anticipate a reduction in the next 12 months.
Nearly 10% of brokers foresee a noticeable increase in their business volumes within the next year.
This optimism persists even though 61% of brokers predict property prices will decline in the coming year, as the ongoing cost-of-living crisis and an uncertain economic climate continue to impact the property market.
Ryan Brailsford (pictured), business development director at Pepper Money, said: “The economic outlook may be uncertain, but brokers are bullish about their prospects for the year ahead and, in many respects, this is for good reason.”
He added that despite potential overall lending volume decreases, the cost-of-living crisis is causing a growth in customers with specialist circumstances.
Brailsford highlighted the importance of financial advice for this expanding group, adding that brokers have a great opportunity to assist people in achieving their goals amid economic turbulence by providing professional, people-focused advice and access to specialist lenders like Pepper Money.
