Loan Application

Big increase in loan applications for Just Mortgages

April 16, 2020 by Brendan O'Neill

Just Mortgages has announced that the number of mortgage applications it dealt with during the final week in March made that week one of its best yet, with an increase of over 10%.

This marks a significant rise in demand from borrowers given the economic situation created by the coronavirus pandemic and lockdown. One explanation for it is that the mortgage brokers who work for the company moved very quickly to establish new working methods like using telephone calling and video conferencing technology. Just Mortgages had been using that technology regularly before the crisis, making the transition easier than it has been for other firms.

However, the sheer number of applications for its mortgage products during March is also down to the boost that the sector enjoyed in the wake of the general election result at the end of last year. The decisive result of this ended much of the Brexit uncertainty that was impacting on the economy as a whole. A final contributory factor may be the desire that people felt to sort out mortgage deals ahead of an impending lockdown.

Speaking to Mortgage Finance Gazette, John Phillips from Just Mortgages said:

“We’re under no illusions about what the immediate future could hold for the industry but we’re confident our business is robust and that once the lockdown is lifted we’ll continue to be in a strong position.”

Every mortgage advisor who has completed a CeMAP course will be hoping this is true of the industry as a whole.

Written by

Brendan O'Neill
Brendan O'Neill

You may also interested in:

Research shows advisor firms plan to prioritise technology

A survey of mortgage advice firms has found that close to one third of them see investing in new technology as

Survey finds mortgage advisors crucial to buyers

Close to two-thirds of people who are buying a home state that they would not be able to manage the process without

New advisors join Mortgage 1st

Mortgage 1st has announced the latest move in its plans for expansion, with 10 further protection and mortgage advisors being added to