The system which helps advisers determine which lenders would consider a particular mortgage applicant recorded the highest ever volume of mortgage searches in the first month of 2021.

Indeed, there was a 69% rise in the number of searches compared to the previous month.

But it was the increase in the amount of advisers searching, on behalf of clients, for the availability of mortgages for furloughed employees which stood out.

The increase follows a similar rise in November 2020 and means that mortgages for furloughed borrowers became the most frequently searched criteria on the tool.

Searches for residential products made up 76.3% of the overall total, showing strong demand from owner-occupiers.

L&G said the bumper activity followed a strong end to 2020, with demand expected to remain high the Stamp Duty holiday deadline on 31 March drew closer.  

Clare Beardmore, head of mortgage transformation and operations, Legal & General Mortgage Club, said the new data painted a ‘promising picture’ for the mortgage market.

“Clearly, many people are continuing to press ahead with their homeownership ambitions and in many cases advisers are successfully matching them with the mortgage products they need to step onto and up the property ladder,” she said

“However, while the total volume of activity rose in January, we’re continuing to see strong demand among consumers for furlough-friendly mortgage products.

“While this isn’t altogether surprising given the effects of lockdowns over the past year, it’s yet another sign that thousands more borrowers with complex circumstances will need the support of advisers to help them find suitable mortgage options in the months ahead.”