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TODAY'S OTHER NEWS

Broker activity ‘consistently higher than pre-lockdown’ – claim

Activity levels of members of the mortgage and protection network HL Partnership (HLP) are 32% higher than in the first quarter of 2020.

In Q1 2020, before lockdown, HLP advisers were performing on average 3,100 searches a day. After lockdown, however, this dropped to just 1,400 per day.

The opening of the valuation market saw an increase to 2,400 and the announcement of a stamp duty holiday took this number to 3,400 – 10% up on pre-Covid levels.

HLP looked at the four key indicators to measure market performance; search data supplied by Twenty7Tec, new fact finds created on its customer relationship management (CRM) system, application data and completions.

In the first two weeks of September, daily searches have been running at 4,100. The network is also seeing search activity translating into applications, and mortgage completions have outperformed 2019 levels in every month despite lockdown.

Managing director at HLP Shaun Almond says the data and fact find analysis demonstrates the resilience of the adviser market.

“For many of our firms, the ability to send online fact finds to customers for them to complete at home, alongside the ease at which they could identify remortgage and product transfer customers, has proved incredibly valuable over the past six months.”

“This indicates there is no signs of slow down as yet despite predictions of house price falls around the end of furlough. However, as a network we continue to support our members with marketing initiatives and further developments to our technology platform.”

He concludes: “We will continue to watch the indicators closely and work closely with our firms should we see a change in the market.”

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