PRIMIS reports busy June for product desk queries

PRIMIS Mortgage Network has reported that its product desk supported appointed representative (AR) advisers with 2,275 queries in June.

This figure was up on the monthly average of broker queries the product desk received during 2020, which sat at 2,083.

The mortgage network’s product desk assists brokers in all key areas of the market and addresses the majority of queries from advisers within three to four hours.

During June, the most common queries that PRIMIS received from brokers included first-time landlords, with brokers seeing a rise in clients looking to invest and become landlords, and in turn looking for more return than savings can offer currently. PRIMIS also saw an increase in Joint Borrower Sole Proprietor queries, usually in cases of parents trying to help children with lower incomes to become homeowners.

Other common queries from brokers included those concerningEnergy Performance Certificate Rating (EPC) changes for buy-to-let (BTL) properties, as well as Retirement Interest Only (RIO) mortgages.

PRIMIS chief operating officer, Toni Smith, commented: “Considering the Stamp Duty Land Tax holiday deadline was 30 June, it’s no surprise that broker queries through the month focused on second properties and parents trying to help their children get on the housing ladder, as brokers rushed to assist buyers to make the most of the tax break.

“Recent uncertainty surrounding minimum EPC ratings for BTL properties also explains the rise in queries of this nature. Brokers were looking for insight on whether lenders will lend on properties with low ratings and what the required changes to raise the EPC rating will be.

“This issue is a concern for many, and we’re pleased to be helping brokers support their landlord clients through the changing landscape.”

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