"December’s performance was down on the prior month, but broadly in line with what we’d expect from most Decembers over the past few years."
Total mortgage searches in December 2022 were down just 2.8% on the same period in 2021, according to the latest figures from Twenty7tec.
December's purchase mortgage searches were down 40.8% on the prior month and down 12.8% annually, while remortgage searches fell 35.3% on the prior month and 10.9% annually.
However, total searches for fixed products were half the volume of October 2022 and Twenty7tec says green mortgage search volumes have continued to falter.
In addition, the volumes of buy-to-let business continued with weekly averages "well down compared to annual averages".
The month ended with over 13,457 products and variants available, up 4.6% compared to the end of the prior month.
The average property valuation for purchases (£334,511) was up 0.2% on the prior month and the average loan required (£231,415) was up 0.6%.
James Tucker, founder and CEO of Twenty7tec, said: “December’s performance was down on the prior month, but broadly in line with what we’d expect from most Decembers over the past few years.
“The next 12 months are going to be full of challenges for advisers and lenders as the move to satisfy customers in challenging economic conditions. We’ll be here to support them in making great decisions and offering the best advice possible, every time.”
