The number of mortgage products available was up 70.1% in January 2022, compared with the same time one year ago, according to the data analytics module INSIGHT, from Twenty7Tec.
This means the market reached 85% of the pre-pandemic total volume of products.
18.12% of all products were found to be in the 90% to 100% loan-to-value (LTV) range, which represents the highest figure recorded since Twenty7Tec began reporting these figures in 2020.
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In January 2022, more than 1.4 million mortgage searches were conducted by advisers, and for the first time recorded, there was more than one million residential mortgage searches within a single calendar month.
Eight of the 10 busiest days on the platform took place in January 2022, and this was the highest month on record for mortgage searches, beating the pre-stamp duty rushes of 2021.
First-time buyers represented almost one in five of all mortgage searches in January 2022.
The data also showed the market moved towards fixed products, with the highest volumes of fixed mortgage searches since March 2021.
James Tucker, founder and chief executive of Twenty7Tec, said: “I hope that advisers and lenders got a rest over their Christmas period as they certainly walked back into a hot market in January 2022.
“We set new records for total mortgage searches and the total for standard residential mortgages surpassed one million searches in a single calendar month for the first time ever.
“Combine this market activity with the broader macroeconomic picture of inflationary pressures and some major periods of remortgaging coming up, as announced by UK Finance, and I predict it’s going to continue to be a busy few weeks for all the advisers in the mortgage market.
“Efficiency and client care is going to be key.”