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“Yesterday was particularly strong for purchase mortgage searches. We saw the highest volumes since lockdown began and the 33rd busiest day for purchase mortgages this year.”

Twenty7Tec’s latest figures show that yesterday was the busiest day for mortgage activity since lockdown began.

Its data shows that yesterday’s purchase mortgage search volumes were the highest since lockdown began, 25% higher than any other day during lockdown.

Total mortgage search volumes were up 11.89% yesterday compared to the same day last week.

Additionally, purchases represented 58.2% of searches versus 41.8% for remortgages, the highest weekday ratio since lockdown.

Weekly purchase search volumes are now at 63.3% of pre-Covid highs, having risen 156% over the past four weeks.

James Tucker, CEO of Twenty7Tec, said:“Yesterday was particularly strong for purchase mortgage searches. We saw the highest volumes since lockdown began and the 33rd busiest day for purchase mortgages this year. Yesterday’s purchase volumes are 84% of the daily high year to date.

“The volumes for remortgage searches are edging back slightly, however. Yesterday’s figure was only the 66th best day this year and around 80% of daily highs in 2020.

“The bank holiday weekend will have pent up a little demand, so it’ll be interesting to see if momentum continues into tomorrow’s figures too.

“Buy-to-let searches form the lowest percentage of total searches since lockdown began as the market’s attention is increasingly turning to purchase mortgages.”

SOURCE:- https://www.financialreporter.co.uk/mortgages/mortgage-activity-hits-lockdown-high-twenty7tec.html