"Rate reductions from some of the big lenders may well be feeding the activity as it's improving customer sentiment."
Yesterday, January 9th, was the busiest day ever in a January on Twenty7tec’s mortgage sourcing platform.
The total of mortgage searches on its platform was 83,877.
Yesterday marked the busiest day for mortgage searches since October 11th, with available mortgage products now at 67.86% of their all-time high.
Nathan Reilly, director at Tweny7tec, said: “We’re expecting a strong week this week. There’s been pent up demand over the Christmas period when many customers simply weren’t in the market for a new property. Plus rate reductions from some of the big lenders may well be feeding the activity as it's improving customer sentiment.
“Yesterday was the busiest day since October 11th 2022, which was also in the midst of our busiest ever week as customers scrambled to make sense of the Truss/Kwarteng mini Budget and products were being removed from the market on an minute-by-minute basis.
“Thankfully, we’re in calmer times now and product levels have risen to pre-mini Budget levels.
“Yesterday was 12.11% busier than the busiest day last January, and 39.43% busier than the busiest day in January 2020.
“Who knows if this will signal a busy year? Our sense is that it’s more likely to be steady busy rather than the stamp duty deadline driven booms of 2021. But we’ve seen it all over the past three years, so never say never.”
