The mortgage market enjoyed a strong start to the year, with demand from buyers continuing to increase according to the latest data from Twenty7Tec.

Mortgage SearchThe platform saw a record 1.4m mortgage searches in January, which included 1m searches for standard residential mortgages. This is the first time this figure has topped the 1m mark in a calendar month.

The company points out that this figure surpasses the number of searches that were being recorded last year, as buyers tried to beat the stamp duty holiday deadline. This data is based on mortgage searches made by more than 15,000 advisers working across the mortgage industry.

In total Twenty7Tec said that eight of the busiest 10 days it has recorded were during this month. First time-buyers also appear to have returned to the market, accounting for one in five of all mortgage searches during January. This is an increase from December, where the number of first-time buyers slumped.

This is also reflected in the fact that the number of Help to Buy searches doubled in January, when compared to December’s figures.

This indicates that the market is moving back towards its pre-pandemic position, with the total volume of mortgage products now 85% of the level seen before Covid.

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