Mortgage and protection network, HL Partnership (HLP) has reported that activity levels by members 32% are higher than in the first quarter of 2020 before the lockdown.
In the first quarter of 2020, HLP advisers were performing on average 3,100 searches a day but after lockdown this number dropped to just 1,400 per day.
The opening of the valuation market saw an increase to 2,400 and the stamp duty holiday took this number to 3,400, 10% up on pre-Covid levels.
HLP looks at the four key indicators to measure market performance, search data supplied by Twenty7Tec, new factfinds being created on its CRM system, application data and finally completions. Search data has been critical as an early indicator for the network and has proven to be a reliable predictor of future completions, it said.
In the first two weeks of September, daily searches have been running at 4,100, over 32% higher than the Q1 2020 average. The network is seeing search activity translating into applications. Indeed, HLP has seen mortgage completions outperform 2019 levels in every month despite lockdown.
Shaun Almond (pictured), managing director at HLP, said: “Our search data and fact find analysis clearly demonstrates how resilient the adviser market has been to the challenges of lockdown and engaging with customers. For many of our firms, the ability to send online fact finds to customers for them to complete at home, alongside the ease at which they could identify remortgage and product transfer customers, has proved incredibly valuable over the past six months.
“The MI indicates there is no signs of slow down as yet despite predictions of house price falls around the end of furlough. However, as a network we continue to support our members with marketing initiatives and further developments to our technology platform. We will continue to watch the indicators closely and work closely with our firms should we see a change in the market.”
