Our Mortgage Matters Direct (MMD) team is celebrating a record breaking year – with October being a record month, and the best October ever for the company.
As one of the largest mortgage specialists in the UK and part of Arun Estate Agents Ltd, the company specialise in mortgages and mortgage-related protection and have helped arrange over £20 billion in home loans alone.
In terms of October 2020, house purchases for the company have been up 29% compared to the same period last year. This has meant a Home Movers increase of 28.4%, Buy to Let purchases up 92% and a First Time Buyers Increase of 19%.
For James Keable, Financial Services Sales Director at MMD, the purchase market has been buoyant since the end of the first lockdown, and although the market did briefly dip at the beginning of the second lockdown in November, it’s been a significant year for the industry overall:
"With the Stamp Duty Holiday set to end in March, the introduction of the Government’s new high LTV Loan Guarantee Scheme is eagerly awaited,” he said.
“The new Help to Buy incarnation launches around the same time and this time it’s limited to first time buyers, so with local area maximum price limits being introduced alongside this, we are delighted that more and more lenders are now coming back into High LTV lending (Halifax launched a 90% LTV product only this week), so there is a lot to be positive about.”
Despite some reporting in the media about concerns that a sharp drop in house prices is on its way, for Keable, the evidence suggests the industry should hold firm and expects a positive year ahead.
“Our contacts at some of the leading high street banks are forecasting that they see little prospect of any significant decline in house prices next year and that gross lending would be if anything slightly increased.
“With vaccinations for Covid-19 now starting, there is a lot to be positive about, and at MMD we are always ready to face whatever challenges life throws at us.”
To talk to a member of our team, visit: https://mortgagemattersdirect.co.uk/contact-us/