Concerns over high LTV availability drive enquiries to Primis up 21%

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The mortgage network said it resolved a total of 2,186 inbound queries from its appointed representative brokers which is up by 21% on the monthly average of 1,800 experienced in pre-pandemic times.

Between April and September Primis said it had supported brokers with more than 12,000 queries which is an 18% rise on its normal six-monthly figures.

It revealed the majority of questions received during September were regarding the availability of high Loan-to-Value (LTV) deals and which lenders were operating in the market.

The team also received a high number of queries from brokers with self-employed clients who wanted to understand how their income would be treated by lenders and which ones would consider government support measures, such as mortgage payment holidays, in applications.

Vikki Jefferies, proposition director at PRIMIS, said: “As broker champions, we recognise the importance of supporting and investing in our advisers so they can provide customers with the best possible outcomes – particularly at this time.

“This is demonstrated by today’s figures, reflecting the work of our highly skilled product desk team in assisting brokers as the Covid-19 crisis continues to impact advisers’ business.

“Sharing best practice is at the heart of what we do, and we are confident that with the expertise of our product desk, advisers will be better equipped to best serve customers as the pandemic continues.”

This data is the first in a monthly series which Primis will release as the network tracks changes and trends in challenges faced by brokers during the coronavirus pandemic.

The mortgage network said its product desk team aimed to resolve queries from advisers within four hours and was currently operating an email and call back only service while Covid–19 restrictions were in place.