The Council of Mortgage Lenders (CML) recently released figures, using data from the Financial Services Authority, showing that mortgage lending via Mortgage brokers/Financial Advisers, accounted for 64% (by value) of total mortgage lending in the first quarter of 2009, approximately the same proportion as the second half of 2008.

Since the start of the credit crunch, some lenders have focused their efforts on branch-based mortgage distribution, but the data highlights the reality that the industry as a whole continues to use Mortgage brokers/Financial Advisers as the main channel and that the evidence suggests homebuyers and remortgagors continue to value the expertise and service levels offered by the mortgage broker community.

The figures showed that 70% of first-time buyer loans, by volume, came through Mortgage brokers/Financial Advisers in the first quarter of 2009, up from 68% in the previous quarter, while home mover loans increased from 56% to 58% over the same period.

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