Twenty7Tec publishes its April 2021 Mortgage Market Report
Twenty7Tec has published its April 2021 Mortgage Market Report, with additional comments from James Tucker, CEO of Twenty7Tec.
The report can be downloaded here.
The findings include:
- 3%*Purchases as a proportion of the mortgage market in April 2021 (remortgages = 28.7%) .
- 60%Products available as of April 30 2021 as a percentage of products available as of Feb 28 2020.
- 12The 12 busiest days ever for ESIS documents for 95%+ products were in April 2021.
- 8sOne ESIS document produced every 8s, all day, every day in April 2021.
- 5%First time buyers made up over 22.5% of the mortgage searches in April 2021.
- 20%By end April 2021, 95%+ searches accounted for more than one in five of all mortgage searches on our systems.
- 6In April 2021, average searches per document produced dropped to 3.6, the long term average.
- 30/6The end of the stamp duty free period effect is affecting volumes above £250k already. Mortgage search volumes for properties over £250k are already dropping.
*Excluding product transfers
James Tucker, CEO of Twenty7Tec, said:
“In April, we saw the baton passed. In order to hit the end June deadline, most mortgages will have been processed by end April. Hence a dip in volumes in some segments of the market. However, overall volumes remained high because on April 19, the Government’s 95% guarantee scheme kicked in and volumes took off.
The 95%+ scheme is a longer term play to keep the FTB market active and appears, to date, to be working. Let’s see what May brings us.”
Kindly shared by Twenty7Tec
Main photo courtesy of Pixabay
