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March saw highest mortgage searches ever – Twenty7Tec

  • 06/04/2022
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March saw highest mortgage searches ever – Twenty7Tec
Mortgage searches in March surged with five of the 10 busiest ever days recorded by sourcing platform Twenty7Tec.


Last month saw the highest number of queries from brokers on the tool, surpassing the stamp duty rush in March 2021 by 60,000 searches.

Volumes are up by 15 per cent month-on-month in the £250,000 to £500,000 range.

On the other hand, the market has softened in the 95 per cent loan to value (LTV) sector with March being the weakest month of the year so far.

A larger percentage of people are searching for properties worth more than £1m on Twenty7 Tec, at 4.29 per cent.

Mortgage choice is still slightly below pre-pandemic levels, but 24 mortgage lenders are offering more products on the platform than ever before.

Nathan Reilly, director of lender relationships at Twenty7Tec (pictured), said: “There’s a lot of change happening in the mortgage market right now.

“Demand remains high for both purchase and remortgage mortgages, but inflation-driven interest rate changes are also influencing the volume of searches that we’re seeing.

“Comparing March 2022 with the two prior Marches is very hard. March 2020 was the beginning of the UK’s lockdown and we quickly went from the height of the market to the lows of the month afterwards. March 2021 saw the stamp-duty-driven boom of last year. Nonetheless, March 2022 has exceeded both prior years for total mortgage searches and ESIS documents created.”

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