Twenty7Tec releases Mortgage Market Report September 2021

Leading mortgage technology provider, Twenty7Tec, has released its latest monthly mortgage market report for September 2021.

Key findings in September include:

• 38.4% Remortgages as a proportion of the mortgage market in September 2021 (purchases (excluding product transfers) = 61.6%).
• #3 September was the third busiest month for mortgage searches.
• 8% Rise in mortgage searches for properties valued at over £1m.
• Ninth September was the lowest ranking month for first time buyers as a percentage of all mortgage searches in 2021 and 14th out of the last 16 months.
• 18.8% First-time buyers as a percentage of all mortgage searches in September 2021.
• 8 of 10 The eight busiest days for remortgaging docs created in the past year were in September 2021.
• Tues Tuesdays are normally the busiest of the week for First Time Buyers – but not in September, when their activity was spread more evenly across the week.
• 3.86% The 95%+ LTV searches market share – down from recent highs of 7.06% in April 2021 when the 95% scheme came into force.

James Tucker, CEO of Twenty7Tec, commented:

“Life after the stamp duty relief starts here. This is the new normal: a legacy 95% guarantee scheme, but much else has returned to pre-pandemic market set up.

“The story of the month from September was that Buy To Let is back and Remortgaging is also heading toward its long-term norm (40:60 of remo:purchase). Perhaps October will see the usual pre-Christmas rush?

“We’ll report as soon as we know next month.”

Kindly shared by Twenty7Tec