MMR leads to more available products The number of available products to brokers has increased by 5% as a result of the Mortgage Market Review, according to research carried out by Mortgage Advice Bureau. There are now 7,942 broker products available – up by 373 from March – while the number of direct products decreased by 2% to 3,474 in April, from 3,544 the month before. Head of lending at Mortgage Advice Bureau, Brian Murphy says: “MMR has made getting advice an integral part of securing a mortgage, and we are already seeing the consequences with a significant shift in the focus of new products from direct to intermediary channels. “A degree of slow-down was inevitable in the run-up to MMR, particularly given the exceptionally busy start to 2014. With applications up 29 per cent year-on-year, the mortgage market remains open for business and in far better shape than it was a year ago.”
Posted on: Thu, 15 May 2014 10:36:52 +0000
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