Twenty7Tec reveals brokers have performed more mortgage searches on its platform in the first week of the year compared to any previous new year.
In the first working week, Twenty7Tec recorded 375,120 mortgage searches compared to 326,914 in the same period last year, a 14.8% increase.
Total purchase searches are also up 2.3% on last year increasing from 192,313 to 196,684.
Total remortgage searches have seen a significant uplift of 32.6% from last year from 134,601 to 178,436.
Twenty7Tec director Nathan Reilly says: “This is the first time that the first week of the year has come close to parity between remortgages and mortgage searches. Mid- to late- December was quiet and the rebound this week will be welcome news to advisors.”
“The remortgage volumes in particular will be keeping advisers busy as there tend to be fewer searches per application.”
Earlier this week, Twenty7Tec reported that it saw 83,777 mortgage searches on 9 January, the busiest January day it has ever had.
This marked the busiest day since 11 October.
Reilly adds: “It’s also the first time that the first working week of the year has seen search volumes above 70,000 total mortgage searches, never mind the high of 83,877 we saw on Monday 9th this week.”
“We can’t predict how a whole year is going to go on the basis of the first week, but these data show it’s a great start for both advisers and lender.”
