Total mortgage searches fell by 20% month-on-month in April, according to Twenty7tec’s April 2026 Mortgage Market Snapshot, dropping from 2.15 million in March to 1.71 million.
Residential remortgage searches experienced the sharpest decline, while buy-to-let (BTL) remortgage searches fell by 23%.
Residential purchase searches also softened, falling 9% month-on-month and 1% year-on-year, reinforcing the ongoing affordability challenges facing prospective buyers despite periods of greater rate stability across parts of the market.
In recent weeks, swathes of mortgage lenders have moved to cut their rates, prompting Moneyfacts to state that mortgage rates may have reached their peak.
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BTL resilience
Twenty7tec’s data points to continued resilience within parts of the BTL sector. BTL searches increased 3% year-on-year, while BTL remortgage searches rose 9% compared to April 2025, suggesting landlords remain active in reviewing and restructuring borrowing arrangements in response to changing market conditions and the introduction of the Renters’ Rights Bill.
Product availability also reduced during April following the stronger levels seen at the start of 2026, reflecting lenders’ ongoing response to swap rate movements, inflation expectations and shifting market sentiment.
Client complexities
The Mortgage Market Snapshot data also revealed the continued complexity of borrower circumstances being handled by advisers. The most searched criteria topics in April included adverse credit, visa and residency requirements, self-employed income, missed payments and applications involving foreign nationals.
Nakita Moss, head of lender at Twenty7tec, said: “The April figures reflect a market that remains highly reactive to both economic conditions and borrower sentiment. After the elevated activity levels seen in March, some degree of slowdown was expected, but the scale of the movement across remortgage and purchase searches highlights how closely borrower behaviour continues to track affordability pressures and wider financial uncertainty.
“What’s particularly interesting is that, despite softer overall activity, advisers are still navigating increasingly complex cases. The criteria searches this month show continued demand for support around adverse credit, self-employed income and residency questions, reinforcing the important role advisers continue to play in helping borrowers access the market.”
