Mortgage Market Report – September
September 2024
Mortgage Market Activity
08.10.24
Twenty7tec, the leading adviser tech provider, has announced mortgage market statistics for September 2024 as follows:
The data:
In September 2024, compared to August 2024:
- Purchase mortgage searches were down 0.1%
- Remortgage searches were up 11.9%
- Buy To Let purchase mortgage searches were up 8.4%
- Buy To Let remortgage searches were up 17.5%
- Residential purchase mortgage searches were down 0.8%
- Residential remortgage searches were up 10.7%
- Searches by First Time Buyers were down 1.0%
In September 2024, compared to September 2023:
- Purchase mortgage searches were up 27.97%
- Remortgage searches were up 11.03%
- Buy To Let purchase mortgage searches were up 24.8%
- Buy To Let remortgage searches were up 17.4%
- Residential purchase mortgage searches were up 30.74%
- Residential remortgage searches were up 8.84%
- Searches by First Time Buyers were up 12.52%
Searches for fixed mortgage products in September 2024:
- Two-year fixed mortgages accounted for 41.71% of all fixed product searches compared to 47.37% in September 2023
- Three- to five-year fixed mortgages accounted for 34.56% of all fixed product searches compared to 32.38% in September 2023
- Five- to ten-year fixed mortgages now account for 23.72% of all fixed product searches compared to 20.25% in September 2023
Nathan Reilly, Director at Twenty7tec, says:
“Year on year, we have seen major growth in purchase mortgage searches, with volumes up 27.97% compared to September 2023. We have also seen 12.52% growth year on year for First Time Buyer mortgage searches.
“September was a busier market than August, driven in no small part by the remortgage searches and particularly in the BTL market. The second half of the month saw increased numbers of ESIS documents prepared, setting new records – four of the seven busiest ever days.
“We also saw the 100 millionth mortgage search on the platform, an incredible result in the ten years since we began business.
“Products variants hit a new high – we now have more choice in the mortgage products market than ever previously available.”
Download the Report
