IFAs 'optimistic' over mortgages

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Mortgage business should remain strong over the coming months - despite a spate of recent interest rate rises, a new survey of UK financial advisors indicates.

The study, conducted by Paragon Mortgages, revealed that brokers expect business to pick up by around six per cent over the coming year - the highest expected rise since 1999. And around 70 per cent of advisors claimed that the interest rate rises would either have no effect or a positive effect on business levels during the next few months.

"Interest rate hikes may have cooled the housing market slightly, but there is still a healthy appetite for bricks and mortar," John Heron, managing director of Paragon Mortgages, commented.

"Financial advisers are the best source of advice for people looking to purchase a mortgage and in an environment of rising interest rates, it is more important than ever for borrowers to seek out independent expert support to ensure they get the best mortgage for their requirements."

Buy-to-let landlords also remain blase about interest rates - with 28 per cent saying that they will be remortgaging despite higher rates and 12 per cent saying they would be investing in more properties as a result of the rises.

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