fbpx

Mortgage Brain: ESIS volumes increase for second consecutive week

Jessica Bird

May 13, 2020

mortgage search uptick

Mortgage technology business Mortgage Brain has seen the number of European Standardised Information Sheets (ESIS) produced from its mortgage sourcing systems increase for the second week in a row. 

Mortgage Brain saw a 3.8% increase in the week commencing 27 April, and last week saw a further rise of 8.4%.

ESIS numbers are now 12.5% higher than the lowest point, though they remain down by 40.3% compared to the nine-week average to 15 March.

Once again there was little material change in the number of available products, at 7,995.

When compared to pre-pandemic levels, this remains 6,698 (45.5%) lower than the nine-week average to 16 March.

Mark Lofthouse, CEO at Mortgage Brain, said: “As time passes, the indications are that we have passed the low point and are now on the journey to the ‘new normal’.

“The growth so far has been led by a sustained increase in ESIS for higher [loan-to-value ratio (LTV)] residential mortgages as lenders increase their LTVs.

“And, following the announcement by the government, growth may be expected to continue over the coming weeks as the home mover market restarts.

“With so many borrowers in testing financial positions, whether they have been asked to take furlough leave or taken advantage of mortgage payment holidays or not, the advice and expertise offered by intermediaries will be more vital than ever in the months to come.”


Sign up to our daily email