Almost four in five mortgage brokers think the sub-prime crisis in the US will continue to have major repercussions on the cost of borrowing in the UK, according to research from All Types of Mortgages (AToM).
Brokers have also expressed concern the crisis will come to affect the amount of business they will be able to complete. AToM’s survey found brokers predict three main outcomes of the sub-prime crisis for the UK market. More than half of all brokers say there will be a consolidation among packagers, 78% think more lenders will close their sub-prime operations, while 87% think the crisis will cause the FSA to examine the sub-prime industry more closely. Commenting on the possible impact for the packager market, Dale Jannels, sales and marketing director of AToM, says: “I personally bel...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
