Openwork sees surge in activity

Paul Shearman, mortgage, protection & general insurance proposition director at Openwork, said the second quarter of the year has been particularly buoyant, with activity in April and May up 46% and 30% respectively on the equivalent months in 2012.

Although Openwork’s numbers for June are still being finalised, business for the month is estimated to be up more than 50% up year on year.

Shearman said the figures reflect a strong uptick in mortgage business across the board, with residential and buy-to-let re-mortgage in particular being in “rude health”.

He said: "The last few years have been tough for all mortgage brokers, so it's great to see the long-awaited recovery in activity finally arrive.

“Given the uncertainties in the global economy and the banking sector in particular, it's clearly too early to call whether the recent uplift will be sustained, but with the impact of Funding for Lending and Help To Buy, combined with the positive environment for brokers created by the Mortgage Market Review, we are looking forward to the future with increasing confidence."