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Mortgage market experiences strongest April since 2008!

The mortgage market experienced its strongest April since 2008, according to figures released today by the Council of Mortgage Lenders. In April, lenders advanced an estimated £12.1bn to borrowers, up 4.3% on the £11.6bn advanced the month before.
April’s figure was also up 22.2% on the £9.9bn advanced to borrowers in April 2012. However, the trade body says year-on-year comparisons are misleading as last April’s figure comes immediately after the stamp duty holiday ended.
The last time gross lending in April was higher was in 2008, when lenders advanced £26.4bn to borrowers. In April 2009, 2010 and 2011 lenders advanced £10.4bn, £10.2bn and £10bn, respectively. April’s gross lending performance is the best since November, when £13bn was advanced to borrowers.

 

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Currently we are operating as normal, we have put a number of procedures in place to help mitigate the spread and limit the impact on the companies operations. Our staff are fully equipped to work remotely from home to answer your mortgage related questions. Your safety and well-being is of the utmost importance to us and so we are closely monitoring the situation with COVID-19 and the mortgage market. If you have any questions related to a new or existing mortgage then we are a mortgage broker that is happy to help answer them. Thankfully, none of the Search Mortgage Solutions team has been directly affected by COVID-19 and we have taken preventative measures to ensure this remains the case, which includes our staff working from home where necessary.
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