The number of mortgage applications made to lenders continued to pick up pace in May with the seven busiest days on record for ESIS documents, the latest data from Twenty7Tec finds.

The mortgage software firm recorded the busiest day ever for creating Esis documents on 11 May, in its monthly market report.

The data also reveals that property purchases made up 68% of transactions in the mortgage market (excluding product transfers), while remortgages accounted for 32%.

The number of products on the market grew by 2.96% as of 31 May this year, compared with 30 April.

First-time buyers made up 21.6% of the mortgage searches in May 2021, lower than in April 2021, while by the end of May 2021, 95%+ searches accounted for 18% of all mortgage searches on

Twenty7Tec systems, above the year-to-date average of 15%.

Twenty7Tec chief executive James Tucker says: “We live in interesting times. The end of the stamp duty holiday is on the horizon and the adjustments to the new market conditions are already happening. We’ve seen fewer searches in most price ranges and LTV ranges in May as focus turned to creating ESIS documents which could hit the deadline of 30 June.

“Ironically, just as volumes dropped back further for the second month on the trot, product volumes rose above 12,000 for the first time in over a year.

“June is going to be interesting.”