"Whilst one swallow does not a summer make, I think that the market needs to hear good news in a timely fashion."
Yesterday, the platform saw a 5% rise in the volume of searches compared to the same day last week.
Twenty7Tec also saw a rise in the number of ESIS documents prepared compared to the previous week and the previous day.
James Tucker, CEO of Twenty7Tec commented: “Yesterday, we saw the first uplift in the volume of mortgage searches for several weeks.
“And the number of ESIS documents prepared were up the same day last week by 3.52% and even up on the prior day (which rarely happens) by 1.29%.
“Finally, the total value of mortgages being looked into also rose 1.66% versus the same day last week. The big spike was on purchase searches where there was an uplift of 13.13% versus last week.
“Whilst one swallow does not a summer make, I think that the market needs to hear good news in a timely fashion. It’s definitely something for brokers, lenders and other providers to build on.
“Purchase mortgages currently represent 31% of daily searches up from a long-term low of 25% last week. This additional level of interest in purchase mortgages is a step back towards the long-term average of 55% purchase to 45% remortgage.”
