Twenty7Tec outlined that the reduction of new properties coming onto the market due to housebuilding delays during prior lockdowns contributed to the volume of searches taking place.
The total number of mortgage searches rose by 59.2% to 1,211,052 in January, according to a supply and demand report by Twenty7Tec.
Searches related to purchase were up 56.7% to 794,750, and remortgage searches rose by 64% to 416,302 over the same timeframe.
First-time buyers accounted for 20.18% of all searches made in January.
Twenty7Tec outlined that the reduction of new properties coming onto the market due to housebuilding delays during prior lockdowns, contributed to the volume of searches taking place.
Buy-to-let ESIS documents prepared also saw a successful January with Niki Cooke, head of intermediary at Twenty7Tec, revealing that weekly records were set throughout the month.
James Tucker, chief executive of Twenty7Tec, said: “The volume of activity in January has been unseasonably frenetic.
“Mortgage searches, ESIS documents prepared, the volume of first-time buyers in the market looking for a new home are all well ahead of prior Januarys, and even ahead of last November.
“Who knows if these volumes will sustain and at the time of writing, there's still no absolute clarity on the stamp duty relief. Buyers seem to have priced that in, however.
“As usual, we'll report on the data as soon as we know what's happening.”
