Almost three quarters of mortgage brokers expect significant UK house price growth in 2010, research suggests.
A total of 74% of the 268 intermediaries surveyed by Platform, the intermediary lender of The Co-operative Bank, say prices are set to rise by anything up to 5% this year.
A similar number of intermediaries expect interest rates will rise by a maximum of 0.5 percentage points to 1% by the end of the year, while two thirds (66%) expect 2010 to be a good one for business.
Despite the positive outlook, half of those surveyed expressed concern about the availability of funds, while 39% believe dual pricing practices will continue to be a major challenge for the sector.
The FSA's Mortgage Market Review Paper is also causing concern, with 12% saying the challenges caused by the paper's proposals will be great. However, more than three quarters (80%) are worried the regulator will renege on its original recommendations.
David Tweedy, director of Platform, says: "Intermediaries are confident the next 12 months will be positive for the market and that the sector is ready to do business."
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