Twenty7Tec publishes its March 2021 Mortgage Market Report
Twenty7Tec has published its March 2021 Mortgage Market Report, with additional comments from James Tucker, CEO of Twenty7Tec.
The report can be downloaded here.
Key findings include:
- 69%* Purchases as a proportion of the mortgage market in March 2021 (remortgages = 30%)
- 7%The rise in standard residential mortgage search volumes during March 2021 v February 2021.
- 7%Rise in volume of fixed rate mortgage searches in March 2021 compared to February 2021
- 5%The rise in the number of mortgage searches in March 2021 for properties valued at over £1m
- 8%First time buyers made up almost 21% of the mortgage searches in March 2021.
- 9sWe produced an ESIS mortgage document once every 4.9s on average on our busiest day in March 2021.
- 24In March 2021, we had our 24 busiest days ever for creating mortgage documents.
- 1m+In March 2021, we had our 24 busiest days ever for creating mortgage documents. During March 2021, we processed our millionth ESIS of EoR document a week earlier than the year prior.
*Excluding product transfers.
James Tucker, CEO of mortgage technology provider Twenty7Tec, comments:
“March 2021 continued the upward trends that we have all experienced over recent months. An extension of the UK stamp duty relief scheme, the promise of a guaranteed 95%+ LTV market and increasing confidence in the market, in vaccines and in life beyond our homes have all combined to sustain growth in our market. Is there any respite on the horizon? It doesn’t look as if things will slow down for a few weeks yet, although the stamp duty relief ending on the £250k-£500k range will dampen demand a little.”
Kindly shared by Twenty7Tec
Main photo courtesy of Pixabay