Twenty7tec recorded 616,150 residential remortgage searches in August. Although this was 12% lower than July’s total, it represented an 11% increase compared with the same month last year.
The increase comes as many borrowers are expected to come off ultra-low fixed rate mortgage deals this year.
Seasonal slowdown dents August activity
Across the market as a whole, mortgage searches totalled 1,556,758 in August. Activity fell 13% from July levels, reflecting the typical summer lull, according to Twenty7tec, but remained 1% higher than a year earlier.
Residential searches followed a similar trend, declining by 13% month-on-month while standing 3% above August 2025 levels.
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Rightmove reported signs of renewed momentum in early September as buyer enquiries received a ‘back-to-school’ boost during the first week of the month.
Nakita Moss, head of lender at Twenty7tec, said: “August was undoubtedly quieter than July, but the monthly fall isn’t the whole story. Overall mortgage searches remained slightly ahead year-on-year, and residential activity was 3% higher.
“Remortgaging is particularly interesting. Our searches were 11% higher year-on-year, and the latest lending figures also show the share of advances going towards remortgaging has increased.
“For advisers, this means there is still a significant population of existing borrowers needing to understand what their next mortgage looks like. In a market where rates and products can change quickly, those conversations can be just as important as activity coming through the purchase market.”
