Demand for capital raising mortgage options remained high through August and September, according to new data from Legal & General Mortgage Club’s SmartrCriteria tool.
Criteria searches for capital raising mortgages saw a rise of 18% overall, with L&G Mortgage Club also confirming that a capital raising mortgage was the second most sought after criteria point in September, rising from sixth place in August.
The mortgage club also found that demand for lenders willing to consider applicants with credit impairments continued to fall month-on-month throughout Q3. In August, the SmartrCriteria tool recorded a 9% decrease in demand for products suitable for borrowers with debt management plans, and an 8% fall in those for customers with unsecured arrears.
Searches on behalf of borrowers with unsatisfied defaults and those employed via contract work also fell by 9% and 8% respectively. In September, demand for products suited to borrowers with satisfied defaults and unsecured arrears dropped by a further 10% and 7%, the figures showed.
The SmartrCriteria tool also revealed that searches made on behalf of international buyers grew by 160% in August. L&G suggested this was consistent with a 107% jump in searches conducted for international buyers with a visa. The rise in interest from international buyers has coincided with easing international travel restrictions and slowing domestic purchase activity in the wake of the end of the stamp duty holiday.
L&G Mortgage Club director, Kevin Roberts, said that a wide range of of factors driving demand in the mortgage market was “reassuring”, following the end to the stamp duty holiday in August.
“However, the crisis has in many cases complicated applicants’ financial circumstances and advisers must keep this front of mind,” Roberts warned.
“Against this complex backdrop, the value of both mortgage advice and technology remains clear. Advisers will need to embrace technology to automate processes such as affordability calculations and other administrative tasks, to usher in efficiency gains and feel confident in tackling these intricate cases.
“With purchase activity expected to return to its pre-pandemic level in the coming months, in light of the end of the stamp duty holiday, now is the time to invest in mortgage technology and prepare for this new and exciting era of the market.”
Latest News
-
Average mortgage rates creep up for first time in eight months
-
Titan Wealth agrees acquisition of Blacktower Group
-
Savers increasing allocations to fixed accounts, research shows
-
SIPP withdrawal requests jump 33% ahead of Autumn Budget
-
Vida Group’s profit increases 463% in H1
-
44% of first-time buyers looking at new builds, study finds
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories