Banks and other financial institutions that keep tabs on the number of people taking out mortgages each month will likely be a bit concerned with mortgage-related statistics unveiled this week. It’s been reported that the number of mortgages that were approved in February 2014 fell sharply from those approved in the prior month.
According to Bank of England figures, 76,753 mortgage loans had been approved in January 2014, compared to 70,309 the following month – February 2014. This represents nearly an 8.4% decline month over month which, especially under the current low mortgage rate environment, is surprising. While data analysts suspected there might be a slight decline in February, they hadn’t expected the drop to be this significant – of over 6,000 loan applications. What concerns many lenders is the fact that these numbers had always been in an upward trajectory since February 2013. Could this sudden reversal therefore be a harbinger of more surprises to come?
On a more positive note, for bankers and mortgage lenders, was the fact that the data indicated that on a year over year basis (Feb 2013 to Feb 2014), the recent figures indicate that mortgage approval numbers were significantly higher – by nearly 33%. Still, these (February 2013) figures do underscore the need for companies in the mortgage lending business to consider whether they need enhance their marketing strategies to reach out even more forcefully to their constituents.
For businesses such as Mortgage lenders and banking institutions, staying in touch with their clients and prospective clients is a vital part of doing business. Potential mortgage buyers need to be constantly advised of new information about products and services, and of rate adjustments. And most often, this is done using outreach assets like contact databases, mailing lists and email address repositories. Unfortunately, those assets aren’t always accurate and often require data cleansing.
WinPure has therefore developed a suite of tools targeted to do precisely that. With data accuracy so essential for list data, companies (and individuals) can use these tools to clean and de-dupe their lists is a way that every contact that’s initiated based on those lists will result in success. Whether it is an email being inadvertently sent to the same email address, or whether it is a mailed pamphlet or flyer about new products sent to the incorrect address, with contact lists sanitised with the help of data cleansing tools, the targeted contact is almost certain to occur.
Built using advanced data matching algorithms and “fuzzy” logic, WinPure helps companies limit wasted effort and resources during outreach campaigns. And the good thing about this amazing set of tools is that it supported on universal computing platforms such as Windows XP-SP2 / 2003 / Vista / Windows 7 and Windows 8. This not only makes these tools affordable t acquire, it also means they are easy to take advantage of because they do not require highly sophisticated IT infrastructure to deploy.