Remortgage instructions increased 11.8% in the week commencing the 20th April, research from conveyancing platform LMS has said.
Nick Chadbourne, chief executive of LMS, said “The remortgage market had a flying start to May, with a sizeable increase in completions across the first two working days of the month. Performance far exceeded both March and April, which clearly shows the market is working well.
“There’s definitely still work to be done on the processing of more complex cases around witnessing documents and validating ID. This is something we need the whole industry to collaborate on if we are to find solutions that ensure all customers are serviced, but overall there are hugely encouraging indications that the industry is coping incredibly well.”
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