The Financial Conduct Authority (FCA) has reported a slight increase in non-advised mortgage sales, now accounting for more than 2.6% of the mortgage market. This shift is significant as it reflects changing consumer behaviour and could impact how borrowers and brokers navigate the mortgage market.
What Do the Latest FCA Figures Reveal?
According to the FCA’s Product Sales Data for 2025, the overall mortgage market remained stable, with 1.08 million new transactions recorded. Intermediated sales continued to dominate, comprising 83% of the market, similar to the previous year’s 84%. The data highlights a 14% year-on-year increase in new mortgage sales, suggesting a robust market despite fluctuations across quarters.
How Did Different Segments Perform?
The report indicates varied performance across different mortgage segments. First-time buyer mortgage sales improved by 16%, reaching 380,715, while homemover mortgages rose nearly 15% to 328,337. However, Q2 saw a notable dip in activity, likely due to changes in the stamp duty threshold. Remortgage activity peaked in Q3, with 93,755 completions, reflecting increased consumer interest in refinancing options.
What This Means for Borrowers and Brokers
For borrowers, the rise in non-advised sales may suggest a growing confidence in navigating the mortgage process independently. However, this trend could also lead to challenges, as borrowers may miss out on tailored advice that intermediaries provide. Brokers may need to adapt their services to address this shift, ensuring they highlight the value of expert guidance in an increasingly self-directed market.
How is the Mortgage Market Evolving?
The mortgage market is evolving with an increase in the number of remortgages completed, rising 12% from 289,059 in 2024 to 324,034 in 2025. This trend indicates that borrowers are actively seeking better deals, possibly influenced by the current mortgage rates. As the market adapts, both borrowers and brokers must stay informed about these changes to make the most of available options.
Frequently Asked Questions
What factors contributed to the increase in mortgage sales?
The increase in mortgage sales can be attributed to a combination of factors, including a recovering economy, rising consumer confidence, and a 14% annual growth in overall sales despite a dip in Q2.
How should borrowers approach the changing mortgage market?
Borrowers should consider their options carefully, weighing the benefits of non-advised sales against the potential advantages of working with a mortgage broker for tailored advice and support throughout the process.