Twenty7Tec has reported that October saw the third highest number of mortgage searches using its platform since it was launched, suggesting activity within the market remains strong.
The month of October brought a total of 1,504,582 searches by mortgage advisors for products using Twenty7Tec. That makes it the third most active month the platform has experienced, but it is still a drop of 2.5% on the total for the previous month. The bumper September tally included one day where there was a record-breaking single-day mortgage search total of 101,620.
However, there still were notable aspects to the figure for October. The opening week in the month set a new record for the number of remortgage searches by advisors. In total, there were 725,474 of these across the whole of October.
The early part of the month also saw the top Twenty7Tec search day ever for green mortgage products, which will be welcome news at a time when there is concern about levels of public awareness of them. There was a drop in the number of fixed-rate product searches across October, but for every other form of mortgage product, the search numbers rose.
Speaking to Mortgage Strategy, James Tucker of Twenty7Tec said:
“The frantic September market continued into the first week of October, but things dropped off as the month progressed. Mortgage availability stabilised around the 10,000 products and variants mark, and volumes calmed towards longer-term averages.”
Advisors with CeMAP training will be pleased at being kept busy finding suitable loans for clients.
