The word unprecedented has been in the dictionary for a very long time. Granted, we don’t know how long. But we’re pretty sure that opening sentence is factually correct.
But while the word may have been written down for yonks, it’s fair to say our generation has given it some of its best use.
Ever since the COVID-19 pandemic came along, the word unprecedented has been used to describe all kinds of things. Unprecedented restrictions. Unprecedented numbers of Zoom calls. Unprecedented online sales. All of the above will have been written or uttered plenty of times in the past two years.
But as recovery from the pandemic starts, the word is being used in different, slightly more positive contexts.
One such use has been seen this week, as an unprecedented number of mortgage searches have been recorded on Twenty7Tec. This mortgage technology and data provider runs a platform to support those interested in finding out more about mortgages suitable for them, and there has been some interesting patterns emerging.
A not-so-quiet January?
January can be a fairly quiet month across many industries for a variety of reasons. A post-Christmas lull, with people being unwilling to spend, is often contributory.
But contrary to this, Twenty7Tec’s platform has seen a staggering number of mortgage-related searches. The company reported Monday 17th January as being the busiest day on the platform in more than two years.
This wasn’t just a freak occurrence either. The seven day period up to the 17th January was also the busiest week on the platform for two years.
Twenty7Tec has reported that business for January 2022 is already at almost 85% of what was seen in December 2021. And that is with two full weeks of January trading still to take place.
What’s going on?
This kind of statistic is a clear indication that many people are looking to make 2022 the year they secure a mortgage.
Trends such as those reported by Twenty7Tec are typically indicative of a general desire among people to get things moving.
With Christmas now out of the way, the recent search trends could show that people are turning their attention to their 2022 plans, and starting to take strides towards that desired mortgage this year.
What does this mean for me?
If you fall into the group of people seeking a mortgage in 2022, then it’s clear you are very much not alone!
The greater demand could see competition for properties and mortgage deals, but that shouldn’t be seen as a reason to put off plans.
Demand for mortgage deals and services will see lenders, brokers and other parties involved in the mortgage chain keen to help people get to where they want to be.
If you are a contractor or a freelancer, then getting mortgage advice can help you ensure your plans run smoothly into 2022.