July Mortgage Searches Busiest in 2020

Twenty7Tec, a mortgage technology provider, has released its monthly marketing data for July 2020.

Data has revealed that July was the busiest month for people searching mortgage deals more than quadrupling last month's.  Re-mortgage search levels remained consistent as at before lockdown.

Since the changes in stamp duty holiday,  the data also saw search level rises within the £500,00-£1million search bracket and more first-time buyers are starting to show their hand. 

There was a drop towards the end of the month for buy-to-let mortgage searches.

Mortgage products fell despite the increased activity to 9,541 at the end of July from 9,900 at the end of June.

Comment

It was certainly to be expected given the loosening of lockdown and now, the stamp duty holiday.