Nationwide reports surge in traffic after stamp duty announcement

Nationwide has reported it saw a significant increase in traffic to its online mortgage affordability tools this week, following the Government’s changes to stamp duty announced on Wednesday.

The society suggested thousands of people flocked to its Quick Quote Mortgage Calculator, a tool which saw a 49% increase in usage on the day of the announcement, as people looked to get a snapshot of their potential budget.

Nationwide also revealed its Mortgage Affordability Calculator saw an increase of 61% compared to the week before. The tool provides a more in-depth view of potential lending options for those looking to move or purchase a home.

The society even reported a “major spike” in traffic as the Chancellor was still speaking in the House of Commons. At 1pm on Wednesday, Nationwide said its traffic was 70% higher to its mortgage pages than the previous week, and later reported a further 70% spike in traffic at around 7pm.

Nationwide chief product owner – mortgages, Matt Smith, said: “It’s really interesting to see that our mortgage tools had a significant spike in usage yesterday as the Chancellor announced stamp duty changes.

“We would encourage everyone who is thinking about moving home to visit our website and make use of our tools which give a really helpful guide on mortgages – from setting aside costs to understanding the different types of product available.”

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