Brokers note lack of leads and activity in August

August is normally a quiet month for lead generation and activity in the mortgage industry and this year has proved no different for most brokers, according to Newspage.

Alex Curtis, founder of The Lead Engine, which works exclusively with brokers, said it is a mixed bag: “We have a few broker clients with their Google Ad campaigns suffering a bit of ‘Augustitis’, while some are running well.

“Remos are strong whereas some specialist advice campaigns have activity but less intent.

“Last year was actually very busy for lead flow but this year, as soon as the school holidays started, we have seen a bit of a drop-off.”

Mark Valentine, managing director of MV Mortgages, said: “August is traditionally quiet and has been for the seven years I have been a broker, and I think it always will be.

“People are much more interested in jetting off around the world and holidaying in Cornwall than they are perusing damp two bed semis for their next portfolio property.”

However, Valentine remained optimistic about the fourth quarter.

He added: “I expect the first couple of weeks in September to be quiet, but once confidence flows back through the market then I think October and November will take off.

“A lot depends on Wednesday’s inflation data.”

Joe Stallard, director of Stroud-based House & Holiday Home Mortgages, was also upbeat about activity levels in the months ahead: “August business for us is slightly down year on year, after a flat July.

“We’re expecting a natural pick-up as the school holidays end and are hopeful for strong September and October activity.”

Also acknowledging that “August does tend to be slightly quieter”, Austyn Johnson, founder at Colchester-based Mortgages for Actors, added: “To drum up business, we send our introducers out some marketing material and see if they will pass it on to their clients.”

Chris Targett, director of Social for Brokers, urged brokers to be proactive during the quiet month of August: “As we all know, August is a month when clients are sipping Pimms as opposed to sorting mortgages, so it’s understandable that it’s quiet during the Summer Holiday period.

“Our clients are using this time to enhance relationships with local introducers that will benefit them in the future, or working on content that will help them generate more leads in the run-up to Christmas.”

Targett continued: “It’s also a great time to be tweaking your online offering, optimising your websites, social media channels and curating a plan for your marketing efforts to help drive business in the next quarter. You’ll thank yourself when it starts to get busy again.”

Meanwhile, Sabrina Hall of Lichfield-based Kind Financial Services, said she’s been slightly busier than usual.

She noted: “This year it’s not been as quiet as most people are still concerned about rising interest rates and therefore seeking advice.

“I’m mostly talking to clients about remortgages and income protection, however, as house purchases seem to have slowed down.”

For James Bull of Huddersfield-based JB Mortgages, a solid client bank can often come to the rescue during the quieter month of August.

He concluded: “As an established mortgage broker business, this dip is fortunately offset by our client bank.

“We always have a number of existing clients to contact every month who need to review their fixed rates that are due to end.”