There was a 10% bump in mortgage searches following latest interest rate hikes, according to the latest findings from Twenty7Tec.
The adviser tech provider compared search data from the week after a rate hike to the mortgage searches the week previous.
The data shows that on the day of a rate hike, mortgage searches are 8.89% higher than the day before.
Nathan Reilly of Twenty7tec, said: “We’ve run the stats and have seen that there’s a 10% hike in mortgage search activity the week after the announcement compared to the week before.
“If the market has called it right, Mortgage advisers are going to be busier than usual from Friday.
“And lenders will, of course, be busy thinking about how to modify products”
He added: “The vast majority of lenders now make adjustments within the first 24 hours of a rate rise. Our team will be working hard to ensure that advisers and house buyers get the very best information as soon as we hear from the Bank of England.”
