Record month of applications and exchanges for Just Mortgages
Just Mortgages has achieved its best ever month for both applications and exchanges in September. There were 1,750 applications and 1,500 exchanges last month in what appears to be a rush to take advantage of the stamp duty holiday. The number of applications was an 20% increase over August and compared to September 2019, was an increase of 40%.
The largest increase in volume was recorded by Just Mortgages’ self-employed brokers, although it was also a record month both for Just Mortgages estate agency based employed brokers and the remortgage team.
With networks of contacts, the self-employed brokers are doing especially well since lockdown ended in July. Just Mortgages’ self-employed division, established just four years ago, only announced that it had achieved 300 brokers in mid-September, but it has already grown by another 25 brokers in the past three weeks. It continues to expand due to its appeal to brokers looking for the independence that comes from being self-employed but who value the support they get from being employed.
John Phillips, national operations director for Spicerhaart and Just Mortgages, commented, “This is a really great time to be a broker. The volume of people looking to move house is higher than anyone may have expected it to be. There has been a massive surge in those looking to move, potentially as a result of people really reflecting on what type of property they want to live in after being stuck in their home during lockdown. The housing market has been one of the few bright spots of 2020.
“As a result, it really is a very positive time to be a broker and the desire to be self-employed appears to be higher than ever. We continue to see record numbers of brokers want to join our self-employed arm as it offers the best of both worlds, providing the support of a larger company while allowing the broker to take their business in whatever direction works best for them.”