16th December 2008
Property investors may be glad to hear that the number of mortgage brokers unable to assist people because of lenders offering better deals directly has decreased.

According to the Association of Mortgage Intermediaries (AMI), mortgage brokers and intermediaries serve consumers better as they help and give advice on the most suitable mortgage for consumers, unlike lenders.

"Consumers wish to deal with mortgage intermediaries and record numbers have done so during the course of 2008," says director general Chris Cummings, who observes that service was the main reason many chose to use an intermediary.

Data from the organisation based on results from April to September shows that the number has decreased from half (48 per cent) to a third (33 per cent) and the trend is predicted to continue.

Mr Cummings has also called for "concerted effort from lenders to kickstart the market" by providing products that will encourage investors back into the market.

The government has intervened in the mortgage market by initiating interest rate cuts and urging lenders to pass on the benefits to consumers.



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