MTE doubles market share

The Mortgage Trading Exchange (MTE) has doubled its market share of all mortgage transactions processed in the UK in the past 12 months.

The platform is now processing annualised transactions with an estimated value of over £30bn worth of mortgages.

Commenting on the MTE’s success, Mark Lofthouse, CEO, said the figures clearly showed that the MTE was firmly considered as the favoured route for intermediaries to electronically submit mortgages direct to lenders.

He explained: “Additionally, transaction numbers for the past two weeks have picked up substantially from the general market lows of November and December and are at the levels previously seen at the end of last September, which, in these difficult and uncertain times, maybe an early indication that mortgage activity in the UK market could be on the increase.”

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