According to the report, intermediary confidence has finally started recovering for the mortgage industry (+17) and intermediary sector (+4) in the final quarter of 2023. While confidence in the respondents’ own firm is down slightly by 2 points, it still retained a high number, standing at a net score of 84. All three of these scores are below long-term norms, but the recovering numbers and increased confidence in the ‘own firm’ outlook are giving a more positive picture than previously.
Regarding the month-by-month breakdown of confidence for the respondent’s firm, participants became more positive as the quarter progressed, with 92% replying that they were confident in the business outlook in December 2023.
When it comes to proportions of mortgage types, residential mortgages still make up most of the mortgage market, making up two-thirds, while buy-to-let mortgages account for around one-quarter. IMLA states that there are no significant changes in the share of mortgage types that make up the market.
Read More: Get the latest on buy-to-let properties for sale in the UK and how to get started with our property investment for beginners guide!