SortRefer has revealed significant growth and record business levels in June amid the Covid-19 pandemic.
The online portal for mortgage brokers has reported an 8.12% increase on the previous monthly high for total instructions, which was set in February 2020.
Sale and purchase instructions also beat records, beating the previous monthly high by 16.45%, whilst property survey instructions saw an increase of over 18.2% against the previous monthly high.
Kevin Tunnicliffe (pictured), SortRefer’s CEO, said: “Covid-19 challenged the whole industry, with government advice putting a halt to certain elements, such as non-essential conveyancing exchanges and completions, new survey instructions and house viewings.
“As certain restrictions were lifted, we were thrilled to see our business levels not only get back to normal, but then go on to exceed previous highs. I’m delighted to report an increase in instructions of 30.62% for June 2020, compared to June 2019, especially as we’ve achieved this whilst working remotely and with a slightly reduced workforce. This is a testament to our hard-working employees, who have continued to provide an outstanding level of service to our customers throughout lockdown.
“Of course, we couldn’t have done it without our loyal brokers, who have continued to support us. It’s a promising sign to see the industry buzz return and I’m confident this will continue to grow in the coming months as we all adjust to a new normal.”
Matt Ratliff, SortRefer’s CTO, added: “We have seen brokers who use our portal maintain a steady income and then increase revenues despite the Covid backdrop. This is a direct result of the investment we have made into our technology to speed up the remortgage process. In a market of shrinking product ranges and the growth of fee free robo advice, brokers embrace the additional revenue generated via our platform.”
