The mortgage broker market has bottomed out and will see the intermediary market continue to grow in 2013, according to the Association of Mortgage Intermediaries (AMI).
Figures from the Financial Services Authority (FSA) said that the number of authorised mortgage firms remained flat over 2012, after falling from 3,553 in January 2006 to 1,394 in March 2012.
The number of directly authorised firms holding permissions for mortgages is now on the rise. The number of firms has risen to 5,055 after increases in the last two quarters. However, the market still remains well below the peak of 7,174 recorded in December 2007.
Robert Sinclair, chief executive of AMI, said that he felt the intermediary market was starting to grow once again.
"It really looks like a corner has been turned. In a world that still lacks good news, this is a small beacon that indicates we have reached the bottom and started to climb back up the slope.
"AMI is predicting a bigger market with larger broker share in 2013 and it looks like businesses are beginning to invest to be part of that growth. Our membership numbers also continue to grow."
The level of appointed representatives of authorised firms is now also growing, figures rose from 2,383 in March to 2,434 in September.
Sinclair added: "As we now have certainty over the MMR, the position of brokers in the mortgage market with their focus on high quality advice has to be the benchmark that all aspire to.
"There will be great opportunities ahead as the UK economy becomes focussed on building more houses and ensuring that those who wish to buy them have affordable loans that meet their needs."
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