Mortgage Brain: ESIS volumes fall 24.6%
Weekly European Standard Information Sheet (ESIS) volumes dropped by 24.6% according to data collected by Mortgage Brain.
Additionally, it noted a total of 164 lender product changes in the week beginning 23 March.
This represents an increase of 43% week-on-week.
Meanwhile, Criteria Hub has welcomed hundreds of new users due to the 90-day free access introduced to reduce pressure on lenders, the firm said.
Furthermore, 45 residential and 33 BTL lenders have provided information that Mortgage Brain has published on Criteria Hub, in relation to COVID-19.
Mark Lofthouse, chief executive at Mortgage Brain, said: “We are in changing times with everyone in the mortgage industry being affected by the impact of COVID-19.
“We have seen an unprecedented change in lenders’ product ranges and I’m pleased that our team has pulled together with all of the changes being implemented within a day and all done with the team working from home.
“The ESIS volumes have shown a marked reduction and we’ll be monitoring this and other KPIs closely.”
“It’s good that we can make a difference. The increase in Criteria Hub users helps to alleviate pressure on help desks and colleagues as intermediaries and lenders can use it to help themselves.”