Brokers applauded for creating 'competitive' UK mortgage market

The role of brokers in finding the best deal for customers has helped the proportion of business originated by intermediaries triple in the last 20 years. Peter Williams, executive director of IMLA, says: “Looking back 20 years mortgages were largely the domain of building societies and the limited availability of funds often meant homeloans were effectively rationed to the consumer.” “The growth of the mortgage adviser and the emergence of the specialist lender with no branch network and wholesale funding changed everything.” According to IMLA, just 25% of mortgages were originated by i...