Twenty7Tec has reported that January marked the busiest ever month on its platform, with more than 1.4 million mortgage searches conducted by advisers.
The mortgage technology expert also revealed that it saw more than one million residential mortgage searches within a single calendar month for the first time ever, with eight of the 10 busiest ever days on the platform recorded during January.
Following a quiet Christmas period for first-time buyers, the latest figures indicate that new buyers have returned to the market and now represent almost one in five (19.1%) of all mortgage searches in January 2022.
Twenty7Tec also reported that it is now back to 85% of pre-pandemic levels in terms of product availability. At the end of January, there was a total of 17,392 products available on Twenty7Tec’s systems.
“We set new records for total mortgage searches and the total for standard residential mortgages surpassed one million searches in a single calendar month for the first time ever,” commented Twenty7Tec founder and CEO, James Tucker.
“Combine this market activity with the broader macroeconomic picture of inflationary pressures and some major periods of remortgaging coming up – as announced by UK Finance – and I predict it’s going to continue to be a busy few weeks for all the advisors in the mortgage market. Efficiency and client care is going to be key.”
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