Adviser mortgage searches hit record high in January: Twenty7Tec

More than 1.4 million mortgage searches were conducted by advisers over the month and for the first time ever, Twenty7Tec saw more than one million residential mortgage searches within a single calendar month.

Eight of the ten busiest days ever on the platform took place in January 2022, supported by first-time buyers who returned to the market after Christmas and now represent almost one in five of all mortgage searches.

As a result, 18.12% of all product searches are in the 90-100% LTV range - the highest figure Twenty7Tec has ever recorded.

Mortgage products in the market are up 70.1% on the same time last year, and are now at 85% of the total volume available before the pandemic.

James Tucker, founder and CEO of Twenty7Tec said: “I hope that advisers and lenders got a rest over their Christmas period as they certainly walked back into a hot market in January 2022. 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.

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.”