"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."
Mortgage brokers have performed more mortgage searches on the Twenty7tec platform in the first week of the year than in any previous new year, the platform's latest data shows.
Total searches were up by 14.8% compared to last year, rising to 375,120.
Total purchase searches are up 2.3% compared to the prior year but remortgage searches have seen a significant uplift – up 32.6% on last year.
Nathan Reilly, director at Twenty7tec, commented: “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 weeks will be welcome news to advisers.
“The remortgage volumes in particular will be keeping advisers busy as there tend to be fewer searches per application.
“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.”
