Mortgage searches rose by 19% month on month in March to reach 2.15 million, according to the latest data from Twenty7tec.

The figures also show that searches were 17% higher than a year ago, as borrowers weighed up their options against a backdrop of volatility triggered by the war in Iran.  

Residential remortgaging remained a key driver of activity, with searches up by 32% month on month to 907,000.

Purchase searches also increased despite affordability challenges, up by 8% to 725,000 from February to March.

First-time buyer searches increased by 5% month on month to 174,000, although activity remains slightly below last year’s levels.

The buy-to-let market saw renewed momentum, with total searches reaching 344,000 up 18% from February, as landlords continue to reassess borrowing strategies in response to evolving economic conditions.

Twenty7tec chief customer officer Nathan Reilly says: “The data highlights how closely borrower behaviour is linked to wider economic signals.

“The increase in search volumes reflects a market reacting to a mix of improving momentum and ongoing uncertainty.”

He adds: “The report also highlights a shift in the types of cases advisers are handling. 

“Searches relating to applicants on visas moved to the top of criteria queries in March, reflecting a growing number of complex borrower scenarios and a broader mix of client profiles entering the market.”