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Twenty7tec reports record month in March with over 1.8m searches

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  • 04/04/2023
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Twenty7tec reports record month in March with over 1.8m searches
More than 1.8 million mortgage searches were recorded in March, which is 10 per cent up on the prior month and six per cent higher than the previous record month of January this year.

According to Twenty7tec, there were around 52 per cent of searches were for purchases and 48 per cent was for remortgages.

It continued that product availability was at its highest level for nine months, with around 17,418 products available.

The company added that for the past seven months the number of buy-to-let ESIS documents created outnumbered purchase ESIS documents produced.

Twenty7tec also noted that at the end of March it recorded the highest long-term average combined salary it had ever seen for mortgage applicants at £69,400.

Figures from the past six months show that from October to December searches fell to around 884,140, compared to 1.6 million in October. They then rebounded in January to over 1.7 million and then decreased to around 1.68 million in February.

James Tucker, founder and CEO of Twenty7tec, said the first three months of this year had been its busiest ever for total mortgage searches, and this year had had its eight of the top 10 busiest months ever for total mortgage searches.

He continued: “In total, over the past five years, we have handled over 61 million mortgage searches for mortgage and wealth advisers. It’s funny to think that the volume of mortgage searches that we have handled in the past three months would have taken around 15 months in 2017-18.

“I’m incredibly proud that we’ve normalised the idea that an adviser can access the best deals for their customer at any hour of the day, 365 days a year.”

Tucker added that it was bringing its “always-on, total product knowledge approach” to the wealth market.

“The progress we’ve made over the last five years on the mortgage side of our business is a sign of where we’ll be in wealth products in the medium term,” he noted.

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