Mortgage Brain reports rise in product numbers and ESIS volumes

Mortgage Brain has reported that both the product numbers on the mortgage market and ESIS volumes produced from its sourcing systems have continued their recent improvement over the last week.

The mortgage technology expert stated there have now been four straight weeks of increases in the number of ESIS produced from its sourcing systems, with last week seeing a rise of 9.4% from the previous seven days. Each day also saw higher numbers of ESIS produced in comparison with the same day of the previous week.

As a result, Mortgage Brain revealed that ESIS numbers are now up 28.9% from the lowest point seen in the week ending 26 April, although they still remain down by 31.5% from the nine-week average to March 16th.
 
Furthermore, Mortgage Brain’s latest analysis revealed that product numbers on the market saw a 3% growth in the number available last week, up to 8,450.

The mortgage technology expert said this was up by 13.8% from the lowest point in the week ending 12 April, but added that availability remains restricted in comparison to pre-pandemic levels, with the number of available mortgage products down by 42.4% from the nine-week average to 16 March.

Mortgage Brain CEO, Mark Lofthouse, commented: “The data suggests that the mortgage market has now turned the corner and is slowly but surely recovering from the shock of the pandemic, with increasing activity and product choice. It remains very early days however, with further progress likely to be gradual.
 
“Nonetheless, the make-up of the business we are seeing is striking. The last week has seen a substantial rise in business involving homemovers and first-time buyers rather than remortgagors, alongside an increase in higher LTV lending. The message that the housing market is once again open for business is starting to get through to those looking to move up or down the ladder.

“With the significant changes in product numbers and criteria since the onset of the pandemic, the expertise and insight offered by intermediaries has never been more vital in helping those buyers find the right mortgage product for their circumstances.”

    Share Story:

Recent Stories


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.


Helping the credit challenged get mortgage ready
A rising number of borrowers are finding it harder to access mortgages due to being credit challenged - whether that’s from historic debts, a county court judgment, or having little to no credit history.

In the latest episode of the Mortgage Insider podcast, Phil Spencer is joined by Eloise Hall, Head of National Accounts at Kensington Mortgages, and Alastair Douglas, CEO of TotallyMoney.


Inside the world of high net worth lending
The mortgage market continues to evolve, and so too does the answer to the question: what is a high net worth individual in today’s market? In this episode of the Mortgage Insider podcast, host Phil Spencer is joined by Stephen Moroukian, Head of Product and Proposition for Real Estate Financing at Barclays Private Bank, and Islay Robinson, founder and CEO of Enness Global. Together, they explore what brokers really need to know when supporting high net worth individuals.

The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.