Twenty7Tec Launches April Mortgage Market Report
- M&A Deals
- 06.05.2021 12:55 pm
Twenty7Tec have launched their latest Mortgage Market Report for April. You can view the report here: https://www.twenty7tec.com/news/mortgage-market-report-april-2021/
Key takeaways include:
- 71.3%* Purchases as a proportion of the mortgage market in April 2021 (remortgages = 28.7%) *Excluding product transfers.
- 60% Products available as of April 30 2021 as a percentage of products available as of Feb 28 2020.
- 12 The 12 busiest days ever for ESIS documents for 95%+ products were in April 2021.
- 8s One ESIS document produced every 8s, all day, every day in April 2021.
- 22.5% 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.
- 3.6 In April 2021, average searches per document produced dropped to 3.6, the long term average.
- 30/6 The end of the stamp duty free period effect is affecting volumes above £250k already. Mortgage search volumes for properties over £250k are already dropping.
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.”
Do please get in touch if you need anything else.