BOOM FOR MORTGAGE SEARCHES INDICATES STRONG HOUSING MARKET
TUESDAY OF THIS WEEK WAS THE BUSIEST DAY OF THE YEAR SO FAR FOR MORTGAGE SEARCHES – WIDELY SEEN AS A GOOD INDICATOR OF STRONG ACTIVITY IN THE HOUSING MARKET.
The flurry of activity, fuelled by the stamp duty holiday announced a week ago, was matched by a similar surge for buy to let searches according to mortgage technology platform Twenty7Tec.
SALES DIRECTOR PHIL BAILEY COMMENTS:
“Since the stamp duty announcement, the market has really hit its stride. The last seven days have been the busiest for mortgage searches all year and we’re handling increased volumes of searches each day.”
He says residential mortgage searches earlier this week were running at triple the level the volumes in lockdown.
“Buy to let has definitely pushed on and the past few days have been the busiest since the first couple of weeks in February.
“Our sense is that buy-to-let will increase further as the products are there for that part of the market and the risk profile of buy to let is still attractive to lenders.”