May mortgage searches rise despite additional Royal bank holiday … – Mortgage Finance Gazette
Mortgage searches jumped in May despite the month including an extra bank holiday, due to the Coronation of King Charles III, says Twenty7tec.
It adds that broker searches for first-time buyer products were up 7.7%, while May was the second busiest ever month for self-employed mortgage searches.
May included three bank holidays, instead of the usual two, due to the Royal event.
However, at the end of May, the number of products on the platform fell by 8.3% to 15,609, its largest month-on-month decline since last autumn.
The firm ads that two-year fixed mortgages accounted for 42.76% of all fixed product searches, compared to just 22.37% a year ago.
While five- to ten-year fixed mortgages now account for 24.13%, compared to 36.12% last May.
Twenty7tec director Nathan Reilly says: “May was characterised by its strong performance despite its unusual tally of three bank holidays.
“Some of the drop in activity that we experienced in April was recovered, but we’re expecting a…
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