Another 8% felt that business would maintain the same level, down from 16% the previous year.

The findings come from the financial service provider’s recent UK mortgage broker event, focussing on HNW clients (those earning at least £300,000 a year).

Brokers listed their most significant issues as macro-economic volatility affecting the market in first place, the challenge of securing repeat business in second (up from third place last year), and the influence of incoming regulation and legislation in third.

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Consistent with last year, brokers identified the most pressing concern for their HNW clients as the ability to utilise a diverse range of income—such as investment returns or bonuses—in affordability calculations.

This was followed by the speed of financing as the second priority and achieving a sufficiently high loan-to-value (LTV) ratio as the third.

Commenting on the findings, Peter Izard, head of intermediary business development at Investec Bank, said: “It’s encouraging to see strong expectations of business growth among mortgage brokers, indicating a robust belief in the resilience of the mortgage market.

“However, the data reveals that many brokers remain concerned about macro-economic headwinds. Additionally, an increasing number of brokers are worried about securing new business as they move through 2025.”