Remortgage searches rise 7% as July Mortgage Market splits between refinancing and cautious buyers
10 August 2026
July’s mortgage market presented a tale of two halves, with remortgage activity continuing to strengthen while purchase and buy-to-let searches eased as borrowers navigated affordability pressures and the usual summer slowdown.
Twenty7tec’s latest Mortgage Market Snapshot recorded 1,790,196 mortgage searches during July, up 1% on June and broadly unchanged from the same month last year. Rather than signalling a significant rise or fall in demand, the figures point to a market where different borrower groups are moving at noticeably different speeds.
The clearest momentum came from remortgaging. Residential remortgage searches increased 7% month on month and 5% year on year, reaching 700,628.
For many borrowers, remortgaging is less a question of whether to act and more about what to do when an existing deal expires. Continued lender competition and improving product choice mean there are options to consider, but borrowers are still having to weigh those against household costs and wider economic uncertainty.
The purchase market remains more cautious. Residential purchase searches were 3% lower than June, while first-time buyer searches fell 4% during the month. However, first-time buyer activity remained slightly ahead of July 2025, suggesting demand has not disappeared even as affordability continues to influence when and how buyers enter the market.
Buy-to-let presents another challenge. Search volumes remain slightly below last year, reflecting a landlord market that continues to assess borrowing costs, taxation, regulation and the longer-term case for property investment.
Nakita Moss, 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.
“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.”
The changing shape of mortgage demand is also increasing the importance of advice. Joint Borrower Sole Proprietor arrangements remained the most searched lending criteria during July, alongside visa applicants, foreign nationals and borrowers with previous credit issues. Rather than pointing towards one clear direction for the mortgage market, July’s figures suggest borrowers are responding differently according to their circumstances.
The Mortgage Market Snapshot is a free monthly download using live search data from Twenty7tec's INSIGHT Pro platform to provide a real-time view of adviser activity and emerging trends across the UK mortgage market.
