Searches for ‘mortgage help’ explode 201% amid mortgage chaos
Analysis of Google search data reveals that searches for ‘mortgage help’ skyrocketed 201% in the United Kingdom.
The end of September and start of October sees some mortgage lenders halt their deals for new customers amid market turmoil.
The analysis, by finance experts Loan Corp reveals that searches for ‘remortgage’ exploded to just over double the average volume, an unprecedented increase in Brits seeking information about remortgaging their homes, according to Google search data analysis.
The data also reveals that searches for ‘remortgage’ have exploded 215% in the past week.
A spokesperson from Loan Corp commented on the findings:
“The past couple of weeks have seen the government revealing their mini-Budget, triggering the market to become volatile, leading to some banks halting their mortgage deals for new customers.”
“In a time of economic uncertainty, this becomes an added stressor for many British people who are looking to take out a mortgage.”
“However, the latest news has now caused a surge of online interest in those looking to remortgage their homes, highlighting the massive impact the cost-of-living crisis is having on the public.”
“Remortgaging a home is a decision that should be made with thorough research and with costs across other sectors rumoured to continue to rise, it will be interesting to see whether these searches translate into mortgage applications.”
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