The majority of mortgage brokers are finding it difficult to find a loan for one or more standard status customers, a survey suggests.
The study, conducted by the Intermediary Mortgage Lenders Association (IMLA) also found 94% of brokers say their clients are having to pay more, while 92% say lending criteria is more stringent.
IMLA found 55% of mortgage intermediaries had been unsuccessful in getting loans for at least one standard status customer since the onset of the credit crunch.
Most intermediaries had only experienced this problem with a small number of customers. However, 12% have had 11 or more standard customers turned down, while 8% had more than 20 cases refused.
Just 34% of brokers say they had no problem getting loans for sub-prime customers, while the average broker has been unable to place 13 clients so far this year.
IMLA executive director Peter Williams says: "In this difficult market environment, customers are struggling to find a loan either direct from a lender or via an intermediary.
"They need good advice and all the help they can get just to source a loan. The role of the intermediary has never been more important.
“It also underlines how important it is that the Government and the authorities act quickly to help ease the liquidity problems in the mortgage market. There is a real danger that they take the view the market will correct itself or that we wait till the Crosby review reports in the late autumn.”
The Council of Mortgage Lenders has already urged the Government to act quickly to improve funding conditions in the mortgage market to prevent a major downturn.
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