paaleads.com report record numbers of leads following interest rate cut

Published:

10/11/2008

Topic:

Press Release,Money

paaleads.com, the lead generation company, has reported a record number of leads generated from moneysupermarket.com following last Thursday's shock announcement of a 1.5 per cent reduction in interest rates.

Simon Williams, head of business development at paaleads.com said: "The consumer response to the drop in interest rates has been instant. On Thursday we generated and sold an all time record number of remortgage leads - more than three times as many as a typical Thursday - and generated the second highest number of all mortgage leads in a day since starting in 2002. The recent reduction in minimum bid prices for mortgage leads shows we're helping advisers in these challenging times; to the extent they're getting more leads for their money than this time last year."
 
With consumers still coming to terms with the news of the interest rate reduction and how it affects them, moneysupermarket.com has also reported a sharp increase in visitors to its mortgage channel.
 
Williams continued: "The ball is firmly in the court of the lenders, some of the major ones have already announced the full reduction in their SVR and pressure is on the others to follow suit, this is great news for our buyers. With many SVRs around seven per cent, more than double the base rate, a lot of consumers will realise there are savings to be had by remortgaging. Despite tightening of lending criteria, those with sufficient equity in their property will almost certainly be able to save money by remortgaging."
 
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