Adviser optimism in housing market improves over past year

Mortgage advisers are feeling increasingly optimistic about the future of the mortgage market, with confidence levels on the rise, according to recent findings from mortgage network Stonebridge. A survey conducted with 265 appointed representatives from the network revealed that a staggering 81% of advisers are positive about the mortgage market’s outlook in the next 12 months. Of this, 71% expressed positivity, while an additional 10% were very positive about the year ahead.

This surge in confidence marks a significant increase compared to the previous year, where only 54% of advisers felt positive about the market’s outlook, a substantial improvement from the low 14% reported in 2023. Furthermore, the survey results indicated that 73% of respondents expect to write more business in the coming year compared to the previous year, showing a notable increase from the 62% reported a year ago.

Stonebridge’s CEO, Rob Clifford, commented on the results, stating that after facing challenges in recent years, brokers are now more hopeful about future opportunities, with confidence levels reaching their highest point in the last three years. While acknowledging that risks such as inflation and regulatory demands persist, Clifford emphasized the overall positive trajectory the industry is currently experiencing.

Stonebridge attributed the growing confidence among advisers to an “improving environment” in the mortgage market, with interest rates gradually easing from the highs observed in 2023, now that the Bank of England base rate stands at 4%. This development enables lenders to offer more competitive deals, further boosting optimism and activity in the market.

Looking ahead, Clifford expressed optimism that this increasing positivity will lead to more significant activity and momentum in the mortgage and protection market. To capitalize on this momentum, Stonebridge is committed to supporting its members by investing in support infrastructure and enhancing its technology offerings to ensure advisers maximize their opportunities in the market.

Overall, the survey results point to a bright future for the mortgage market, with adviser confidence at its peak in recent years. As market conditions continue to improve and lending practices evolve, the industry is poised for growth and increased business opportunities. With a positive outlook and proactive support from industry networks like Stonebridge, advisers are well-positioned to navigate and capitalize on the evolving landscape of the mortgage market.