Almost a third – or 28.5 per cent – of remortgage clicks from UK homeowners are of the five-year fix variety, shows data published by Iress and Koodoo.

This is the fastest growing interest in a product of this type in the period between October 2020 and January 2021, moving from 25.6 per cent of all online clicks.

During the same time, searches for two-year fixes fell from making up 48 per cent of searches to 43.7 per cent – a drop of 4.3 per cent.

The report also shows lenders becoming more competitive in the 85 per cent to 90 per cent LTV remortgage area of the market. Here the two firms have assigned a ‘competitive score’ to various lending categories. One is the lowest possible score, five the highest.

At the higher-LTV end of the aforementioned market, the trend from October 2020 to January 2021 has been given a score of 3.4, up from 2.5.

However, the 90 per cent LTV to 95 per cent LTV category garnered a score of 1.2, the lowest given by some distance.

Iress executive general manager Dave Miller comments: “It’s our intention that lenders be able to use this data to inform their lending strategies to navigate the current environment and facilitate the eventual return to improved lending conditions.”

Koodoo chief executive Seb McDermott says: “In a rapidly changing mortgage market, access to real time customer data is vital. The Koodoo analytics platform helps lenders make sense of this data to serve their customers better and we are delighted to be working with Iress to do that.”