Searches on behalf of first-time buyers, first-time landlords and non-owner occupiers increased by 13% in October, as the mortgage market held "strong" across the board despite wider economic uncertainty, Legal & General (L&G) Ignite has said.

The firm revealed that searches made by advisers have continued to grow month-by-month since June, with first-time buyer activity remaining "particularly resilient", retaining the fourth most popular criteria used.

‘Joint borrower-sole proprietor’ was the second most popular term in October, with searches growing by 7% month-on-month. L&G said it is clear that reliance on wider support remains commonplace with first-time buyer enquiries, with searches for ‘gifted equity/concessionary purchases’ growing by 8% from September to October.

Despite the increase in the number of mortgage searches, L&G said the high level of inflation remains pronounced.

Searches for borrowers with unsecured arrears, missed mortgage payments and unsatisfied defaults each rose by 16%, 4% and 2% respectively. Searches on behalf of borrowers with unsatisfied county court judgements rose by 30%.

L&G said that in a "reflection of the challenging economic climate", demand for capital-raising mortgages continued to rise in October, with searches growing by 15%, becoming the third most popular criteria used.

Head of mortgage products and transformation at L&G Technology, Jodie White, said: "It is fantastic to see advisers going above and beyond to find innovative routes to homeownership for buyers in response to the economic challenges.

"In particular, it is great to see searches on behalf of first-time buyers leading the way, with the bank of family of course maintaining a significant role in this. With advisers contending with complex client needs and circumstances, as well as the wider economic backdrop, it is vitally important that they are armed with the tech tools that the industry has to offer."

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