Twenty7tec’s latest mortgage market statistics for September 2024 shows that purchase mortgage searches were down 0.1% compared to August.

However, mortgage searches were up 27.97% compared to September 2023.

Remortgage searches were up 11.9% compared to August 2024 and were up 11.03% compared to the same period last year.

The figures also reveal that buy to let (BTL) purchase mortgage searches were up 8.4% in September 2024 compared to the previous month and were up 24.8% compared to September last year.

BTL remortgage searches were up 17.5% in September 2024 compared to the month prior and were up 17.4% compared to September last year.

Searches by first time buyers were down by 1.0% in September 2024 compared to August and were up 12.52% compared to September last year.

Meanwhile, two-year fixed mortgages accounted for 41.71% of all fixed product searches last month compared to 47.37% in September last year.

Three- to five-year fixed mortgages accounted for 34.56% of all fixed product searches compared to 32.38% in September 2023.

And five- to 10-year fixed mortgages now account for 23.72% of all fixed product searches compared to 20.25% in September 2023.

Twenty7tec director Nathan Reilly says: “September was a busier market than August, driven in no small part by the remortgage searches and particularly in the BTL market. The second half of the month saw increased numbers of ESIS documents prepared, setting new records – four of the seven busiest ever days.”

“We also saw the 100 millionth mortgage search on the platform, an incredible result in the ten years since we began business.”

“Products variants hit a new high – we now have more choice in the mortgage products market than ever previously available.”