Private wealth investment in property could be on the rise

The number of individuals investing their private wealth in property looks set to rise, new figures suggest.

According to a poll from the Intermediary Mortgage Lenders Association (IMLA), there will be an increase in mortgage activity during the fourth quarter of this year, with the rise mainly fuelled by buy-to-let activity and refinancing.

One in three (34 per cent) intermediaries believes standard mortgage business levels will rise, with 26 per cent of these respondents predicting a rise of between three per cent and seven per cent.

Almost half (46 per cent) of respondents said they expect remortgage activity to grow, while 44 per cent of brokers predicted an increase in next-time buyers.

John Heron, chairman of the IMLA, said: "The pick-up is slow but market conditions are gradually improving, particularly in the buy-to-let and remortgage markets."

Intermediaries accounted for almost two-thirds of sales during the second quarter of 2011, according to the Council of Mortgage Lenders. ADNFCR-2318-ID-800738170-ADNFCR