Mortgage brokers braced for business boost

Residential landlords are being hampered by a "dearth" of available products in the mortgage market, it has been suggested.

A new survey has revealed that confidence in the mortgage market is continuing to grow.

However, the report also revealed that buy-to-let customers are suffering from the fact that the market is being "dominated" by just two lenders.

The latest Financial Adviser Confidence Tracker (FACT) from Paragon Mortgages has revealed that mortgage brokers are more confident about the market for the fourth month in a row.

Figures from the study showed that more than half of the respondents expect an increase in business levels in the first three months of 2010.

John Heron, Paragon Mortgages' managing director, said: "Confidence slowly returned to the broker community throughout 2009 and this looks set to continue in 2010.

"However, these remain low compared to the historical average and the market is nowhere near back to normal yet. This is particularly the case in the buy-to-let sector, where just two lenders dominate current levels of business and landlords suffer from a dearth of available mortgage products."

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