Connells Group’s mortgage services wing has recorded a 10 per cent increase in the number of mortgages in 2016 and has generated £10.3 billion worth of lending.
The market was not dented by Brexit, it says, with remortgaging the key activity - up 31 per cent last year compared to 2015. Over the 12 month period there was a six per cent rise for buy to let mortgage lending too, despite the uneven business caused by the spring 2016 stamp duty surcharge deadline.
“To service this demand, we continue to invest in our business offering our customers a consultant in every branch” says Adrian Scott, Connells Group mortgage services director.
The agency also has specialist new homes mortgage advice via Connells subsidiary The New Homes Group. “This ensures as many buyers as possible have access to our mortgage advice” explains Scott.
The first-time buyer market also continued to thrive – up 19 per cent on the previous year – buoyed by various government schemes such as Help to Buy, and more 95 per cent mortgages becoming available.
This trend looks set to continue as the group saw first-time buyer mortgage applications rise year on year by 21 per cent in January and, as a result, first-time buyers are now responsible for a third of all mortgage activity.
Connells says it intends to expand its mortgage side further during 2017.
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