Majority of brokers expect business pick-up in H2

Nearly two-thirds of mortgage brokers expect to do more mortgage business in the second half of 2010 than the first.

Only one in six were pessimistic about the prospects for later in the year, according to new research from NatWest Intermediary Solutions.

Over half of brokers had written more mortgage business in the first few months of 2010 compared to 2009 but around a quarter had written less.

The poll also found short term (three years or less) fixed rate mortgages were predicted to be the biggest sellers in the second half of the year for 41% with long term (five years or more) fixed rate deals favoured by 30%. Only a fifth of brokers thought tracker deals would be the best sellers.

Graham Felstead, head of intermediary channel at NatWest Intermediary Solutions, says: "It was really encouraging to hear first-hand how positive intermediaries are feeling about business now and for the rest of the year.

"It was particularly rewarding to speak to so many mortgage advisers about the issues they are currently grappling with and to hear how through determination and creativity they had not only survived the last two years' challenging conditions but managed to thrive despite them."