Borrowers’ increasing focus on remortgaging in July signals ongoing market activity and competitive pressure, despite broader economic uncertainty, according to Twenty7tec.
Residential remortgage demand climbed in July as borrowers continued to shop around ahead of fixed-rate expiries, according to Twenty7tec, which said searches in that segment rose 7% month on month and 5% from a year earlier to 700,628. Total mortgage searches reached 1,790,196, up 1% from June, suggesting the market remained active even as other parts of lending eased. Twenty7tec’s earlier June snapshot showed the market had already been recovering from May’s weakness, with overall searches rising 7% month on month. Twenty7tec said the latest figures point to borrowers and advisers staying engaged despite economic uncertainty.
The clearest sign of pressure from expiring deals came in remortgaging, where competition among lenders continued to support activity. Nakita Moss, head of lender at Twenty7tec, said borrowers were still reviewing their options and that advisers had an important role in helping them navigate a more competitive market. The trend follows a broader pattern seen in recent months: April brought a sharp slowdown in search activity, while May remained subdued before June posted a rebound.
Elsewhere, the data was softer. Buy-to-let searches fell 2% on the month and 2% year on year to 269,605, with purchase searches down 3% and remortgage searches down 6% annually. Residential purchase searches also slipped, falling 3% from June and 1% from July 2025 to 660,471. First-time buyer searches edged lower on the month to 159,492, though they were still 1% higher than a year earlier. That mixed picture suggests demand is still present, but borrowers remain selective, especially outside the remortgage market.
For now, Twenty7tec said the overall market appears steady rather than overheated. Its June figures had already shown a return to growth in residential and first-time buyer activity after a weak May, while April’s slump highlighted how sensitive the market remains to affordability pressures and wider economic uncertainty. July’s numbers, however, indicate that remortgaging is doing much of the heavy lifting as households move to secure new deals before existing fixed terms end.
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