Residential remortgage searches increased by 7% during July as purchase and buy-to-let activity weakened, according to Twenty7tec.
The mortgage technology provider recorded 1,790,196 searches during the month, representing a 1% increase from June and little change from July 2025.
Remortgage searches reached 700,628, rising by 5% annually as more borrowers approached the end of existing fixed-rate deals.
The figures revealed an increasingly divided market, with refinancing activity strengthening while prospective buyers continued to contend with affordability pressures and economic uncertainty.
PURCHASE SEARCHES DECLINE
Residential purchase searches fell by 3% month on month, while first-time buyer activity decreased by 4%.
However, first-time buyer searches remained slightly above the level recorded in July 2025, indicating that demand had not disappeared despite continued affordability constraints.
Buy-to-let searches also remained marginally below last year as landlords considered borrowing costs, taxation, regulation and the longer-term returns available from property investment.
Nakita Moss (main picture, inset), head of lender at Twenty7tec, said: “July’s data suggests the mortgage market remains on a steady footing.
“Total search activity edged up by 1% compared with June and remained broadly in line with the same month last year, showing advisers and borrowers continue to engage despite ongoing economic uncertainty.”
COMPLEX CRITERIA DRIVE SEARCHES
Joint Borrower Sole Proprietor remained the most searched lending criterion during July.
Advisers also conducted significant numbers of searches for visa holders, foreign nationals and applicants with previous credit issues.
The pattern indicated that brokers were handling a growing range of borrower circumstances rather than relying on conventional affordability models.
Moss added: “Remortgaging was the standout story this month, with searches up 7% month on month and 5% year on year.
“As more borrowers reach the end of existing fixed-rate deals and lender competition remains strong, advisers have an important role to play in helping clients navigate an increasingly competitive market.”
