The Financial Conduct Authority (FCA) has reported a slight increase in non-advised mortgage sales, indicating a shift in the UK mortgage market. This change is noteworthy as it reflects evolving consumer preferences and market dynamics, impacting borrowers, brokers, and lenders alike.
What does the FCA data reveal about mortgage sales?
The FCA’s Product Sales Data for 2025 shows that of the 1.08 million new mortgage transactions, 83% were facilitated through intermediaries, consistent with the previous year’s 84%. The overall mortgage sales remained stable, despite a dip in Q2, likely influenced by changes in the stamp duty threshold. In Q1, 283,676 new mortgages were completed, dropping to 221,208 in Q2 before rebounding to 289,499 in Q3 and 286,345 in Q4.
How did remortgage activity perform in 2025?
Remortgage activity surged in Q3, with 93,755 completions, compared to 73,841 in Q1 and 73,115 in Q2. By the end of the year, remortgage completions settled at 83,303 in Q4. Overall, remortgage numbers increased by 12%, from 289,059 in 2024 to 324,034 in 2025, indicating a robust demand for refinancing options.
What impact did the market have on first-time buyers?
First-time buyer mortgage sales saw a significant rise of 16% in 2025, reaching 380,715. However, activity was notably lower in Q2, with only 77,116 sales, contrasting with approximately 100,000 sales in other quarters. This trend suggests that first-time buyers may be reacting to market conditions and financing options differently throughout the year.
What this means for borrowers and brokers
The increase in non-advised mortgage sales may indicate that more borrowers are opting to navigate the mortgage process independently. This shift could lead to a greater need for brokers to demonstrate their value, particularly in providing tailored advice and navigating complex mortgage products. Additionally, with the rise in remortgage activity, borrowers looking to refinance should explore their options carefully, especially in light of changing market conditions. For competitive options, borrowers can check current mortgage rates.
Frequently asked questions
What are non-advised mortgage sales?
Non-advised mortgage sales occur when borrowers choose a mortgage product without professional advice, often relying on online tools or direct lender offerings.
How can I benefit from the rise in remortgage activity?
With remortgage completions increasing, borrowers may find competitive rates and options, making it an opportune time to reassess their current mortgage terms.