The data provided by Twenty7Tec's INSIGHT platform will show the performance of the market over the past week, up to and including the previous day’s activity.
Twenty7Tec is using their INSIGHT platform to provide free daily market analysis reports to key intermediary and lender partners, as well as the rest of the market, during the COVID-19 crisis.
These reports will focus on demand levels in the mortgage market by analysing three key metrics which include the volume of intermediary searches across all users and the value of loans requested in total via the production of ESIS documents by all intermediary users.
Key intermediary partners of Twenty7Tec will receive this data relating specifically to the performance of their own firm, as well as being able to access market-wide data.
The data provided by INSIGHT will show the performance of the market over the past week, up to and including the previous day’s activity.
James Tucker, chief executive of Twenty7Tec, said: “It has never been more critical to use data to predict trends in demand that will support the timely and proactive behaviours needed to ensure our industry is able to weather this crisis.
"It is our hope that by providing this data to our key intermediary and lender partners we can support them in reacting in the right way to this constantly evolving situation.
“So far, our industry has done a great job of working with government and pivoting so meet the needs of the new economic and social environment.
"We’ve seen three month holidays introduced at speed – which I believe will be looked back on as one of the best moves our industry could have made at this time.
"We hope that by providing this data through INSIGHT Barometer in an open and timely fashion, that lenders and brokers will be able to continue to innovate at pace and meet the needs of a changed market.
“Mortgage activity is often a helpful indicator in the UK’s broader economic performance.
"It has never been more critical to use data to predict trends in demand that will support the timely and proactive behaviours needed to ensure our industry is able to weather this crisis.
"It is our hope that by providing this data to our key intermediary and lender partners we can support them in reacting in the right way to this constantly evolving situation.”
