Mortgage submissions through Acre’s platform have surged this week as brokers move quickly to secure deals for clients amid market volatility and expectations of rising rates.

Acre said its platform recorded a 60% increase in mortgage submissions to lenders by brokers during the week commencing 10 March, as geopolitical uncertainty continues to unsettle financial markets.

The spike reflects growing concern among homeowners that the remaining sub-4.0% mortgage deals could soon disappear. As a result, brokers are submitting applications earlier and in greater volumes in an attempt to secure rates before potential increases.

The rise in submissions has been accompanied by a significant increase in new cases being created on the platform, suggesting advisers are trying to get ahead of anticipated pricing changes.

Remortgages are playing a particularly strong role in the surge. Acre reported a 30% increase in case creations as borrowers move sooner than planned to secure new deals.

The trend comes as swap rates have risen and the prospect of a further Bank of England base rate increase looms, creating additional urgency among borrowers approaching the end of fixed-rate periods.

The heightened activity is also placing additional pressure on brokers as they attempt to secure the most competitive deals available for their clients before pricing shifts further.

Reuben Thompson, Head of Product Innovation at Acre, said: “As always, mortgage brokers have their ears to the ground and are working harder than ever to ensure their clients get the best rates locked in.

“Seeing in the data how brokers react so quickly to changes in the market is yet another proof point of the value intermediaries bring to their customers.”