Remortgage activity saw a notable increase in July 2026, with searches rising. This trend indicates a growing interest among borrowers looking to refinance, despite ongoing economic challenges affecting the wider property market.
What Do the Latest Remortgage Figures Show?
According to recent data, the total number of mortgage searches in July reached a significant figure, marking an increase from June and remaining stable compared to July 2025. The surge in remortgage searches reflects an increase year on year. This growth contrasts with a decline in purchase and buy-to-let searches, indicating that many borrowers are prioritising remortgaging over entering the purchase market.
Why Are Purchase Searches Declining?
While remortgaging is on the rise, residential purchase searches have fallen, with first-time buyer searches also down. This decline can be attributed to ongoing affordability pressures that are making it challenging for potential buyers to enter the market. However, first-time buyer activity remains slightly above levels seen in July 2025, suggesting that demand still exists, albeit cautiously.
What This Means for Borrowers and Brokers
For borrowers, the increase in remortgage searches indicates a potential opportunity to secure better mortgage deals as lenders compete for business. Brokers should focus on advising clients about remortgaging options, as this segment is currently more active than the purchase market. Landlords may also need to reassess their strategies as buy-to-let search volumes remain slightly below last year, indicating a more challenging environment for property investment.
Frequently Asked Questions
What factors are driving the increase in remortgage searches?
The rise in remortgage searches is largely driven by borrowers seeking to take advantage of better rates and terms, especially in light of economic uncertainties.
How can brokers assist clients in this remortgage climate?
Brokers can provide valuable insights into the best remortgage deals available and help clients navigate the complexities of refinancing in the current market.