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Mortgage application numbers soared on Christmas Day

Christina Hoghton
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Christina Hoghton

One mortgage broker firm saw a surprising 400% increase in the number of aspiring borrowers applying for a deal on the 25th December

Not content with opening presents, eating turkey and watching Gavin and Stacey, some people are apparently keen to do a bit of mortgage research on Christmas Day.

There was a 433% spike in the number of people applying for a mortgage on Christmas Day, according to Mojo Mortgages.

The digital broker said that, compared to year-on-year figures, applications peaked on 25 December 2019, with more first time buyers looking to apply for a mortgage in 2020.

Richard Hayes, CEO of Mojo Mortgages, said: “December is a notoriously quiet period for applying for a mortgage, but our daily stats have shown that more people than ever are looking to get sort out their mortgage for 2020 and find out what they are eligible for, especially first time buyers who are looking to get on the property ladder.

“There are many reasons for this, one of which could be due to the result of the election earlier on in the month that has boosted confidence within the market.

He continued: “It’s well known that from 26th – 31th December property searches are also higher, because many people are off work and the have spare time to look for a new house, so people who are applying for a mortgage seem to be doing their due diligence ahead of their new home searches.”