This represents an 8% increase compared to 2009, when 186,413 transactions were processed throughout the year. The first half of 2010 played host to the peak month of the year with March 2010 witnessing the highest point when 20,645 mortgage transactions were processed – the highest monthly figure since February 2008.
Commenting, Mark Lofthouse, CEO of The Mortgage Trading Exchange, said, “These figures clearly demonstrate the business value derived by brokers who use the mte.
“There’s no doubt that 2009 was a difficult and challenging year for intermediaries but to see an 8% increase in mortgage transactions processed via the mte is another clear example of the positive moves that have been made over the past 12 months in a declining market.”
The mte provides an industry-wide means of requesting AIPs and submitting and tracking Full Applications between intermediaries and lenders. The platform, which is available to all mortgage intermediaries, integrates with the leading point-of-sale systems to improve efficiency and ensure compliance and is also available as a standalone. It is supported by the UK’s leading lenders with AIP requests and applications being received directly into lenders’ systems and responses typically received in less than a minute.
