The Mortgage Trading Exchange (mte) has seen a 21% increase in the number of mortgage transactions compared to this time last year.

The electronic trading platform, which provides an industry-wide means of requesting AIPs and submitting and tracking full applications between intermediaries and lenders, was used to process over 230,000 mortgage transactions during the past 12 months.

Mark Lofthouse, CEO of the Mortgage Trading Exchange, said: “These latest figures further demonstrate the true business value derived by brokers who use the mte.

“To see such an increase in mortgage transactions during a particularly static period in the UK mortgage market is a fantastic achievement and testament to the platform’s unique capabilities in delivering a fast, efficient, compliant and ‘right first time’ mortgage application process for all concerned.”