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Mortgage interest 'set to rise in third quarter of 2010'
The number of consumers planning to take up mortgages is expected to rise in the third quarter of 2010, new research has suggested.
According to Paragon Mortgage's Financial Adviser Confidence Tracker survey, financial advisers are expecting to see a 7.2 per cent quarter-on-quarter increase in business during the period.
The figure marks the sixth consecutive quarter that increased business levels have been predicted, with nearly 25 per cent predicting that they will handle over ten per cent more enquiries than they experienced in the second quarter.
John Heron, managing director of Paragon Mortgages, said brokers are evidently confident about the short-term future of the market.
He added: "August is traditionally a very quiet month but September bounces back as people return from holiday with plans to either buy or sell."
Last month, research by the Council of Mortgage Lenders revealed that gross mortgage lending in the UK rose by 15 per cent in June.