Paragon’s FACT Index shows uptick in remortgage market share

Posted on Friday, February 12 by Joy Tibbs

Paragon Mortgages’ latest Financial Advisor Confidence Tracking (FACT) Index reveals that the mortgage market grew during the fourth quarter of 2015.

The fourth quarter saw a sharp increase in the average number of mortgages being introduced per financial advisor’s office, from 22.7 to 25.2; an 11% increase, which puts current business volumes at their highest since 2008.

The overall mix of business being processed by financial advisors remained largely stable during the fourth quarter. There was, however, an increase in the volume of remortgage business from 33% to 35%.

The fourth quarter also saw demand for fixed-rate products increase for the fourth consecutive quarter, with mortgage advisers recommending a fixed-rate product to more than 80% of customers. Of these products, 48.1% were fixed for two years, while 33.1% were fixed for five years.

John Heron, director of mortgages at Paragon, said: “The latest in our long-running FACT series paints a positive picture of the mortgage market, with business volumes up across the board and an overall confidence score the highest it has been since 2008.

“Looking forward, an overwhelming majority of financial advisers expect business to either grow or remain stable over the coming quarter.”

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