Twenty7Tec’s platform data has revealed last month was the third-busiest month ever for total mortgage searches with 1,504,582 throughout October. 

While it was a busy month, the volume of searches declined by 2.5% from September which saw 101,620 searches in just one day. 

The first week of October saw the most mortgage searches for remortgages ever on the platform with 725,474 for the whole month. 

Green mortgages saw their busiest day ever at the beginning of the month. 

Total searches for fixed products dropped in the month, but increased for all other product types, notably tracker mortgages where volumes rose over 50%.

Data found that the three busiest days ever for producing ESIS docs were in the first week of October.

September’s data showed eight of the 10 busiest days ever for remortgage ESIS docs.

Meanwhile, the month ended 52:48 for purchases versus remortgages but the second half of the month was 57:43 for purchases and the first half was 60:40 for remortgages.

The month ended with 49% more products/variants available than at the end of the prior month.

Twenty7Tec founder and chief executive James Tucker says: “The frantic September market continued into the first week of October, but things dropped off as the month progressed.”

“Mortgage availability stabilised around the 10,000 products and variants mark, and volumes calmed towards longer-term averages.”

“It’s possible that November will also prove a month of two halves given the Chancellor’s statement on November 17, two weeks after the Bank of England’s November 3rd interest rate decision meeting.”