Mortgage News
CAL sees 30% rise in purchase instructions
Online conveyancing distributor, Conveyancing Alliance Ltd (CAL), has further underlined the continuing improvement in housing market activity throughout the summer, revealing a 30% month-on-month increase in purchase instructions from July to August.
The firm said the level of remortgage instructions remained at low levels, however, this had also improved slightly since earlier in the year.
The firm said this sustained increase in purchase activity represented an ongoing opportunity and argued advisers to maintain their marketing push for the growing number of first-time buyers and home movers looking to purchase in today’s market.
Harpal Singh, managing director of CAL, said house purchase continued to rise and represented the largest chunk of the market at present.
He explained: “Our 30% month-on-month increase from July to August also shows this is likely to be maintained for the rest of the year. Remortgage instructions have ticked up slightly but only from very low levels and we are therefore suggesting that advisers continue to focus and concentrate on those first-time buyers and home movers who are purchasing that are slowly coming back to the market.”
“Bringing this purchase business into an adviser’s business continues to be the key opportunity in the mortgage market at present. But advisers must also remember to maximise all revenue streams when they gain these clients. In the past, the conveyancing opportunity has often been overlooked.”
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