Mortgage applications surge 10% before Covid-19 lockdown

Just Mortgages saw a 10% spike in mortgage applications in the last week of March as borrowers rushed to beat the coronavirus lockdown.

Related topics:  Mortgages
Rozi Jones
8th April 2020
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At the end of March, the Government put a stop to all but "critical home moves" and Just Mortgages says buyers and sellers were keen to keep their deals on track so they are in a position to complete their moves at the earliest opportunity.

Clients were also eager to get remortgages in place as homeowners approaching the end of a fixed-rate term took advantage of low rates to create more certainty.

Just Mortgages says protection has been another key focus as brokers work with their clients to ensure they are resilient against this and future economic shocks.

John Phillips, national operations director for Spicerhaart and Just Mortgages, commented: “With so much bad news around, it’s heartening to see our brokers are continuing to put everything into serving their clients’ needs.

“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.

“In the meantime, we expect remortgaging to be a key area of activity, as hard-pressed homeowners look to secure a lower rate where possible.

“And the Covid-19 pandemic throws into stark relief the need for consumes to have the right protection policies in place alongside their mortgage. We will be doing whatever we can to help our clients protect themselves and their families in these uncertain times.”

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