SMART tracks the confidence and general sentiment of intermediaries operating in the specialist mortgage markets.
The full findings from the third regular BM Solutions SMART index are:
• Self-certification mortgage cases continue to be the strongest specialist mortgage product amongst intermediaries – accounting for 22% of all cases introduced. An increase of 3% on the half-year findings published in the SMART index.
• Compared with the mid-year survey, sub-prime cases rose from 8% to 10%. Buy-to-let held steady accounting for 12% of all cases introduced by intermediaries.
• Mainstream cases fell slightly from the last survey from 58% to 54%.
Commenting on the survey, Michael Bolton, director of mortgages at BM Solutions, said: “It is interesting to note the increase in self-cert cases during this survey period. Brokers are increasingly aware of the benefits of self-cert for their clients; it remains extremely valuable to mortgage advisers, being perfect for people who have an irregular income.”