Record Number of Borrowers Looking for Advice

15th April 2008

Last Thursday saw the highest number of borrowers ever go through Leadbay looking for advice. The number of mortgage borrowers exceeded two thousand in one day. Under six months ago the average number of borrowers coming through Leadbay in a day was half this at one thousand.

This high number is despite Leadbay having cut the loan to value that borrowers can ask for, which will have restricted the number leads coming through the lead generator. Leadbay cut the loan to value on all mortgages and loans last month so it will only sell as leads borrowers that have realistic deposits so that advisers have a good chance of converting the lead to business.

Simon Baker, Leadbay's commercial manager says, "The volume of mortgage enquiries coming through Leadbay via the internet has doubled since Christmas. Normally there is an increase in enquiries in January and February but this usually tails off by March; this year the number of enquiries has continued to increase month on month and is now double what it was just a few months ago.

"We have made it easier for advisers to place the business by requiring bigger deposits, these two events combined mean that there is now a high supply of quality new business for advisers available at some of the lowest prices we have seen."

Notes for editors Leadbay forms a part of Add Momentum which launched in the summer of 2003. It focuses on delivering innovative services that are customer-focused and easy to use. Its ethos is to bring people and technology together; to help people to fulfil potential, achieve new things and make a real difference.

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