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Housing market return ‘very quickly’ turned into mortgage applications – Lloyds Banking Group

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  • 29/05/2020
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The immediate burst of interest in the housing market after restrictions were lifted resulted in estate agent website visits “very quickly turning into applications”, according to Lloyds Banking Group.

 

Speaking on Mortgage Solutions Television, the lender said the reaction to the return of housing market activity in England had been “really positive” and that was continuing to progress.

Mike Jones, managing director of intermediaries and specialist brands at Lloyds Banking Group, said the signs were good for the market with purchases becoming more common.

“What had been a steady increase for the previous three or four weeks of activity levels, took a major step forward as we’re getting towards the end of May,” Jones said.

“And that’s clearly continuing. So [we’re] very positively getting back into a market with purchase being a normal activity, as opposed to refinance.”

Jones added that patience was still required though as lenders would be working through their pipelines.

“We’ve all got cases that are dead but don’t know it yet, so we’ll have to deal with the cancellations,” he added.

Jones was joined by Esther Dijkstra, director of strategic partnerships at Lloyds Banking Group.

 

 

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