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Twenty7Tec: Mortgage searches per document produced up 25%

Jake Carter

March 11, 2021

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The number of mortgage searches for every mortgage document produced is up 25% over the past 12 months, according to Twenty7Tec’s latest monthly market report.

The volume of mortgage searches for houses valued at over £1m rose by 10% between January and February.

The data also noted a 9.94% increase in total value of loans documented using its systems, over the same timeframe.

Overall, first-time buyers made up almost 20% of the mortgage searches in February 2021.

The report revealed that February saw the 11 busiest days ever for preparing mortgage documents, and 13 of the highest ever 15 days.

The purchase versus remortgage search ratio has stayed broadly in line with the last three months, at 65:35.

Last month, searches were up across all types of mortgages including a noticeable rise in buy-to-let volumes, up 7%.

Twenty7Tec also documented £43.7bn of loans, which trends to £13.9bn of gross mortgage lending in February 2021.

James Tucker, chief executive at Twenty7Tec, said: “Despite coming hot on the heels of an outstanding January and yet subject to the Chancellor’s Budget in March 2021, February surpassed expectations.

“Volumes were up across the board for both searches and documents prepared.

“Equally, the ratio of purchase to remortgage appears settled.

“The ratio of first-time buyer searches also appears settled at around 20%.

“We’ll report back on the effects of the Budget announcements as they begin to affect our figures.”


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