Housing slowdown forces brokers to seek alternative income, says National Homebuyers

A slowdown in the UK housing market is forcing mortgage brokers to seek alternative forms of income in order to avoid running into financial difficulty.

[UKPRwire, Wed Oct 03 2007] New research by BM Solutions shows that 78 per cent of brokers feel that current market conditions are forcing them into action.

They feel that they need to make money elsewhere in order to increase or maintain their income.

"As the market slows, it's inevitable that brokers will look for additional sources of income," commented Phil Rickards, head of sales at BM Solutions.

It is a worrying sign for anyone wishing to sell their property as it means that a marked slowdown is taking place and brokers are not confident of a swift bounce back.

With this in mind, many people may look to make a quick property sale before the market slows further, allowing them to free-up some cash for anything from moving abroad to paying for treatment for someone who is in ill-health.

Julian King of National Homebuyers says this should be a time when brokers are concentrating on getting the most out of their mortgage offers.

"When faced with a difficult time in a business's lifecylcle, taking the 'easy route' will be detrimtental to the broker.

"Additionally, less and less brokers ready to service the homebuyer will mean it becomes increasingly difficult to get the right advice, at a time when achieving it is essential".

Julian King is a director of National Homebuyers, the UK's leading fast property purchase firm that guarantees a quick sale on any UK property, regardless of its condition, for vendors who need a quick sale.

The news follows the publication of figures from Nationwide which showed that annual house price inflation fell from 9.6 per cent in August to nine per cent in September.

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