Mortgage applications ‘will increase’ this spring

Posted 17/02/2010

There will be an upturn in requests for conveyancing lawyers during spring 2010 as the housing market picks up, new figures suggest.

Paragon Mortgages has released its Financial Adviser Confidence Tracker (FACT) Index, which shows that 58 per cent of mortgage brokers believe there will be more applications for these products in the first quarter of the year than in the last three months of 2010.

Meanwhile, the experts think there will be 7.1 per cent more activity in the housing market this spring than there was between October and December 2009.

Commenting that the index could prove that the housing market is on its way to recovery, Paragon Mortgages’ John Heron said: “We are encouraged by improvement in the broker community’s projections for future business and we hope that it continues throughout the rest of the year.”

This comes after ten per cent of landlords told the same organisation that they will be increasing their property portfolio in the first quarter of 2010.