A report from Twenty7Tec shows that there were over 10,000 first-time buyer searches through its platform every weekday during August.

And overall, August saw brokers process 2.22 times more searches and applications than the five-year average, Twenty7Tec adds.

The overall busiest day of the month was Tuesday 25 August, which saw 66,300 mortgage searches completed, just over 12,000 of which were on the behalf of FTBs.

The firm says that the biggest spike in property price ranges seen in July and August were in the £250,000 to £499,999 bracket, a clear indicator of people taking advantage of the Stamp Duty cut announced earlier in the year.

While cheering this move, Twenty7Tec chief executive James Tucker warns that the government needs to support supply as well as demand, otherwise “we’ll continue to have a mismatch between buyer demand and lenders who want to de-risk.

“Simply put,” Tucker says, “without a functioning FTB element, the rest of the housing market doesn’t function.”

Meanwhile, sales director Phil Bailey adds: “One statistic that stands out is that almost two out of every five mortgage products available now is for buy-to-let.

“That’s well ahead of long-term averages and means that first time buyers and re-mortgagers are having to access a smaller pool of available products, especially in the 90 per cent or more LTV brackets. Lender capacity is front of mind for the whole market now.”