"We've seen fewer searches in most price ranges and LTV ranges in May as focus turned to creating ESIS documents which could hit the deadline of 30 June."
The firm says its seven busiest days ever for ESIS documents were in May 2021.
It has recorded 3% growth in available products in May compared to April, with 95%+ searches accounting for 18% of all mortgage searches on its systems by the end of the month.
Despite this, first-time buyers made up 21.6% of all mortgage searches in May 2021, lower than in April.
James Tucker, CEO of Twenty7Tec commented: “We live in interesting times. The end of the stamp duty holiday is on the horizon and the adjustments to the new market conditions are already happening. We've seen fewer searches in most price ranges and LTV ranges in May as focus turned to creating ESIS documents which could hit the deadline of 30 June.
"Ironically, just as volumes dropped back further for the second month on the trot, product volumes rose above 12,000 for the first time in over a year. June is going to be interesting.”
