Connells mortgage business up by over a third
In terms of the total value of mortgages arranged the Group also saw a 55% which Connell’s attributed to ongoing investment into its Mortgage Services division and a more active and buoyant housing market.
In a year characterised by increasing levels of confidence from home buyers, Connells Group Mortgage Services also recorded a 37% increase in first-time buyer mortgage applications and a 27% increase in the number of home movers.
The continued strength of the rental market was also apparent with the Group recording a 62% increase in buy-to-let mortgage applications in 2013 as landlords and investors took advantage of greater competition amongst lenders and availability of mortgage products.
Adrian Scott, mortgage services director for Connells Group, said: “The Connells Group has continued to invest in its Mortgage Services business and increase the number of Mortgage Services Consultants we have available to customers.
“Ensuring as many buyers as possible have access to our mortgage advice is a key priority for the Connells Group, which made a significant investment into increasing the number of mortgage consultants to almost 500 in 2013.”
In January 2014, Connells Group Mortgage Services has already seen a 30% hike in the number of mortgage applications it has made on behalf of customers compared to January 2013. T
Scott said: “The number of first-time buyers and buy-to-let mortgage applications saw the biggest annual increases in January 2014 at 32% and 35% respectively.
“The number of home mover applications also saw a rise of 16% in January which is encouraging with the current imbalance in demand versus supply although our estate agency figures show the number of properties coming onto the market has some way to go to meet buyer demand.”
Mortgage Services remains a core focus for the Connells Group in 2014 with further investment and expansion planned.