IMLA defends broker prospects for 09

The Intermediary Mortgage Lenders Association (IMLA) has refuted suggestions by the Association of Mortgage Intermediaries (AMI) that advisers may account for just 45% of the market in 2009.

However IMLA has emphasised intermediary-sourced mortgages are a vital constituent of the UK mortgage market, and said its members would continue to support brokers.

Peter Williams, executive director of IMLA, says: "Additional loss of market share would involve prime lenders further boosting the volume of lending done directly with borrowers. But in practice the number of intermediary products on the market in January is on the up.

"Brokers play a key role in helping borrowers negotiate what is still a very complex mortgage market and it is vital they continue to focus on providing top quality advice and service. Most lenders still see them as the primary route to market and they are working hard to ensure sufficient funding is in place for this channel."