The number of cases processed by mortgage advisers in the 12 months to Q4 2021 was higher than at any other point since 2015, a new report published by the Intermediary Mortgage Lenders Association (IMLA) has revealed.

According to the results from IMLA’s latest Mortgage Market Tracker, the average intermediary now places 103 cases per year, a 32% increase on the yearly average determined in Q4 2020.

With intermediaries keeping busy in the final months of 2021, IMLA suggested that confidence in the business outlook for their own firms also remained strong. Over three in five (62%) intermediaries said they were “very confident” about the outlook for their firm, while 98% were confident overall.

Furthermore, the report indicated that confidence in the outlook for the broader intermediary sector stayed at a high level, with 96% either “very confident” or “confident” compared to 97% in Q3 2021.

“The stamp duty holiday might have come to a close in September last year, but all signs point towards advisers keeping busy in the final months of 2021,” commented IMLA executive director, Kate Davies. “The positive findings of our latest report clearly reflect this strong level of activity and the demand that underpins it.

“As caseload volumes increased to set new records in Q4 2021, despite the months following the conclusion of the stamp duty holiday expected to be quieter compared to 2021 as a whole, advisers have a solid foundation to begin 2022.”

IMLA’s report also showed that the average number of Decisions in Principle (DIPs) that intermediaries processed in Q4 decreased in November, to 26 per intermediary, but rebounded to 32 per intermediary in December.

The trade body noted that this rise had come alongside homeowners returning to the market, aiming to secure new fixed rate mortgages before rising inflation and interest rates begin to make products less attractive and affordable.

“With inflation potentially reaching 7% by April this year, and interest rates continuing to rise, we expect demand to remain strong in the mortgage market as borrowers try to lock into new fixed-rate deals and those with more complex financial situations seek support,” Davies added.

“Independent financial advice will be crucial for these customers, and advisers will play an important role in helping them to find the most suitable, and affordable, deal.”

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