Brokers still sourcing deals at midnight as working day gets longer

Brokers still sourcing deals at midnight as working day gets longer

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Brokers still sourcing deals at midnight as working day gets longer
Mortgage brokers are continuing to source deals well beyond the end of the average nine to five working day, with many searching for products until midnight, analysis from Twenty7Tec found.

 

According to the firm’s September report, 11am was the peak time for broker searches which reached around 152,000.

Although searches begin to ease off between five and six o’clock in the evening, dropping from around 105,000 to 51,000, thousands of searches were still be carried out until midnight.

September contained the second, third and fifth busiest days of the year for the production of all ESIS documents and the busiest day of the year for buy-to-let ESIS documents.

On a rolling 7-day average, every day in July, August and September ranked above any day in February and early March for ESIS documents prepared.

James Tucker (pictured), chief executive of Twenty7Tec, said: “As we crunched the figures this month, some interesting data jumped out at us in regard to the new working week for brokers.

“As more people work from home, it seems the property market will need to adapt to keep up with demand, justifying our new support hours launched last month.”

The proportion of searches for remortgaging is up 9.2 per cent while the volumes of searches for mortgages are up across all bands except the 90 per cent plus band.

SOURCE:- https://www.mortgagesolutions.co.uk/news/2020/10/06/brokers-still-sourcing-deals-at-midnight-as-working-day-gets-longer/?

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Please find below an interactive report on supply and demand…

Broker working patterns shift into evenings: Twenty7Tec AMY LODDINGTON |…

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