"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."
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.”
