It also said that February saw a 17.63% increase in mortgage searches for million-pound properties, and that, during the month, three of the four busiest days ever were recorded on the platform
More than 1.43 million mortgage searches – the highest on record – were conducted by advisers last month on its platform, mortgage technology provider Twenty7Tec announced.
It also said that February saw a 17.63% increase in mortgage searches for million-pound properties, and that, during the month, three of the four busiest days ever were recorded on the platform. The figures beat even the pre-stamp duty rushes of 2021.
Twenty7Tec said its data analytics module tracks the behaviour of the 15,000 advisers who search for mortgages for their clients via the CloudTwenty7 platform.
Meanwhile, mortgage product volumes took their first dip in late February as the market adjusted to new market conditions, but recovered to end February higher than January.
Read more: Twenty7Tec: Product numbers returning to pre-pandemic levels.
There is now 87.6% of the total volume of mortgage products available pre-pandemic and 18.12% of all products are in the 90-100% LTV range – the highest figure since Twenty7Tec began reporting.
“Despite being a shorter month, February outperformed January’s strong performance, particularly in the areas of total mortgage searches, the volumes of buy-to-let mortgage searches and the volume of searches in the £1m-plus valuation range. Activity was stronger in the first half of the month so it will be interesting to see how momentum sustains into March and the pre-Easter push,” Nathan Reilly, director of Lender Relationships at Twenty7Tec, said.
