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Mortgage Brain: September ESIS reach 2020 high point

Jessica Bird

October 6, 2020

mortgage search uptick

The number of European Standardised Information Sheets (ESIS) generated through Mortgage Brain’s sourcing systems hit a new high point for 2020 in September.

Not only were overall ESIS numbers at a record high, but the number of ESIS generated per working day were also at the highest level seen thus far this year.

ESIS numbers have recovered strongly since the onset of the pandemic, with totals materially higher than pre-pandemic levels for 10 straight weeks.

Numbers have become consistently over 10% higher than those seen before COVID-19 hit.

Residential purchase ESIS represented a higher proportion of the total generated than before the pandemic for 17 consecutive weeks, and markedly up by around 10% for the last 14 weeks.

This is replicated in the buy-to-let (BTL) market, as purchase business has continued its steady growth, now accounting for 12% more of the total buy-to-let ESIS generated than before COVID-19.

Residential ESIS volumes for 80% to 85% loan-to-value (LTV) have been around 10% higher than pre-pandemic levels for 14 straight weeks.

These cases currently account for 22% of the total number generated.

Those cases with a deposit of 10% or less accounted for 1% of ESIS generated in September compared to the 6.6% average seen earlier this year.

The number of products has dropped slightly week-on-week to 8,287, but remain relatively steady, having stayed above 8,500 for 15 of the last 18 weeks.

Product numbers are now around 11.3% above the pandemic low point in the week ending 12 April, and 43.7% on the nine-week average to 16 March.

Mark Lofthouse, CEO of Mortgage Brain, said: “September has been a bustling month for the mortgage market, with demand from buyers driving ever-increasing ESIS volumes.

“Lockdown has clearly caused many people to evaluate whether they are really happy with their current home, while the stamp duty holiday has made the prospect of purchasing a new property ‒ for owner occupiers and landlords alike ‒ more appealing financially.

“However, the strength of this demand is still not feeding through into product numbers and higher LTVs.

“While they have rebounded since the onset of the pandemic, the total number of products available remains mired around 8,500, which is substantially down on what we saw before COVID-19 took hold.

“There is still plenty of room for improvement here, particularly at higher LTVs.”


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