HL Partnership (HLP) is stating that the amount of activity among its member mortgage advisors has risen significantly in comparison to the year’s first quarter.
The mortgage brokerage has indicated that the number of searches being performed by member advisors has gone up by 32% compared with the opening quarter of the year. When the market reopened, the average number of searches per day being carried out by its advisors hit 2,400, before rising to 3,400 once the government announced its temporary changes to stamp duty charges.
During the opening quarter of 2020, the number of these searches by HLP members averaged 3,100, which means that they have now risen by 10% compared with that period. The criteria that HLP uses to determine member activity are: new CRM system fact-finds, Twenty7Tec supplied search information and mortgage application completions and data.
All of this shows that during the opening two weeks of last month, searches by member advisors per day were 4,100, which was more than 32% above that of the pre-pandemic opening quarter of 2020. Furthermore, these are being turned into loan applications, with a mortgage completion rate above that of 2019 for every month of this year so far.
HLP Managing Director Shaun Almond told Mortgage Introducer that:
“Our search data and fact find analysis clearly demonstrates how resilient the advisor market has been to the challenges of lockdown and engaging with customers.”
The health of the advice market in the current climate is likely to see applications for CeMAP training rise.