“Our advisers report a really varied picture,” she said. “In some parts of the country, customers are much more exposed to affordability constraints. In others, purchase and remortgage values are higher and income, therefore, more lucrative.
“Each firm has its own focus and business model to suit the customers they cater to, and that means they experience different parts of the market – from high value loans and fewer transactions all the way through to writing more business at a lower margin.”
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Meanwhile, the survey also highlighted regional disparities in optimism, with advisers in Northern England showing less confidence in the sector’s growth, as 66% anticipate fewer professionals in the field next year. In Southern England, 61% of advisers expressed concerns about a reduction in numbers over the next 18 months.
“There is no doubt that it’s been a tough couple of years for borrowers and that has affected brokers,” Madge said. “Whether our industry grows or not is of less relevance to advisers who run their businesses, as they know only too well.
