We like to keep our eye on the ball here at Roots when it comes to the wider mortgage industry, and pass the best bits over to you, our readers.
As such, 2021 so far has brought some pretty positive headlines. We like this, given how 2020 went, and want it to continue throughout the next 12 months and preferably beyond that.
The latest tidbit of positivity comes this week with some news about online searches around mortgages, as more and more people seem to be warming to the idea of buying a home this year.
This follows on from recent news around mortgage approval rates reaching their highest point in 13 years, and a new flurry of 90% LTV mortgages hitting the market, making for a wonderful triumvirate of positive news to start your year off. Long may it continue!
What’s the story with mortgage searches?
The latest positive news comes from Twenty7Tec, a technology solution provider specialising in making things easier for people wanting to obtain a mortgage.
These guys have released data that indicates that last week saw the fifth highest number of searches on their platform in the past two years.
If this trend is reflected across the wider mortgage industry, it shows a burgeoning interest in making 2021 the year people secure the mortgage they wish for.
Why the rise?
Well in truth, this rise comes off the back of a significant lull in such searches in the first week of January. Twenty7Tec recorded just 67% of their highest ever search numbers that week.
However the stats have bounced back with aplomb, and that may well be to do with people realising that the stamp duty holiday’s end is edging nearer and nearer.
Though the latest lockdown has forced us all to take check, there’s no reason why plans cannot be made and this time be used in a positive way. Contractors and freelancers who are seeking a home in 2021 are also being afforded the opportunity to review their situations at present, and potentially start to set out plans that will see them make a positive step on the property ladder in the next 12 months.