Brokers anticipate 65%+ market share by year end

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More than four-in-ten mortgage brokers expect the intermediary share of the mortgage market to top 65% by the end of the year.

At the Buy to Let Market Forum earlier this month head of BM Solutions Phil Rickards said he expected broker market share would reach 65% by the end of 2014.

Lenders' direct channels are expected to come under increased pressure due to the arrival of the Mortgage Market Review this weekend, with branches unable to deal with as many cases as previously.

The latest Mortgage Solutions People's Poll asked advisers if they agreed with one-in-four (26%) expecting broker share to finish the year at 65%.

In addition 41% of respondents went further and said broker share would pass that level in the coming year with a third expecting share to remain below 65%.

"Lenders will struggle to maximise their capacity through branch," Rickards told the audience in Manchester earlier this month.

"This is great news for the intermediary market."

He said as recently as 2012, direct and intermediary market share had been virtually level, at that time brokers occupied 51% of the market versus 49% for direct channels.

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