The latest information compiled by Twenty7Tec shows that the volume of searches for mortgage products among advisors in the UK hit new record levels during January.
This data comes from its INSIGHT analytics service, and it shows that advisors carried out over 1.4 million searches for mortgage products during the course of last month. This is higher even than the numbers recorded during the period of last year, just before the holiday on stamp duty came to an end, and it signifies the highest figure for a single month since records began.
January also proved to be a particularly busy month for advisors specifically using the Twenty7Tec platform to search for mortgages. It experienced over a million of these during the month, which is the first time that has happened since it was launched.
The month also brought eight of its 10 busiest mortgage search days since that launch, which is being attributed to first-time homebuyers re-entering the mortgage market following the festive period, with these buyers making up close to one out of every five searchers.
Twenty7Tec CEO James Tucker told Financial Reporter that:
“I hope that advisors and lenders got a rest over their Christmas period as they certainly walked back into a hot market in January 2022.”
Tucker went on to add that advisors could expect business to stay hectic, due to rises in remortgaging and the impact of inflation.
This is set to be a very busy spell for mortgage advisors, and one in which their CeMAP course knowledge will be vital.