Mortgage market activity continued to strengthen in May, with adviser platform Twenty7tec reporting a 12.3% increase in total mortgage searches compared to April. The firm also recorded a new high in live product availability, with more than 25,000 options accessible via its platform.
Year-on-year, total searches rose 6%, with remortgage activity standing out as a key driver, up 23.1% from May 2024. First-time buyer purchase searches increased 13.9% year on year and 3.5% month on month, accounting for 37.3% of all residential search activity. Nearly half (48.2%) of these searches were for 90%+ loan-to-value (LTV) products, and 78% were above 80% LTV.
Buy-to-let activity, however, continued to decline. Purchase searches in that segment fell 11.7% year on year and represented just 14.8% of all searches – one of the lowest monthly shares on record. The figure reflects a steady decline from the 23.9% peak recorded in 2018.
On 13th May, advisers generated 30,120 ESIS documents in a single day – the highest daily total so far this year and nearly double the average.
Nathan Reilly, commercial director at Twenty7tec, said: “May felt like a month where confidence picked up noticeably. Search volumes were up, remortgaging remained strong, and first-time buyer demand continued to grow. The product landscape is the most competitive it’s ever been, and that’s good news for advisers and their clients.”
He added: “It’s also interesting to see the return of shorter-term fixes as a dominant product choice. With so much speculation around interest rate direction, borrowers seem to be positioning themselves for flexibility.
“Behind the numbers is the role of technology. Advisers are navigating a complex landscape, and a platform like ours is helping them do it faster, with less admin and more certainty. From affordability checks to research and applications, the integrated tools we provide give firms the confidence to act quickly and compliantly.
“We’ve always said our mission is to support better advice, smoother lending, and smarter decision-making. May’s performance is proof that when tech is working well behind the scenes, advisers can focus on what matters most: helping clients make good financial decisions.”
