Twenty7tec: January 2025 mortgage market activity
05 February 2025
[5 February 2025, London] Twenty7tec, the leading adviser tech provider, has announced mortgage market statistics for January 2025 as follows:
In January 2025, compared to December 2024:
- Purchase mortgage searches were up 85.07%
- Remortgage searches were up 82.64%
- Buy To Let purchase mortgage searches were up 61.86%
- Buy To Let remortgage searches were up 76.41%
- Residential purchase mortgage searches were up 90.53%
- Residential remortgage searches were up 87.11%
- Searches by First Time Buyers were up 91.44%
In January 2025, compared to January 2024:
- Purchase mortgage searches were down 7.87%
- Remortgage searches were down 22.23%
- Buy To Let purchase mortgage searches were down 14.14%
- Buy To Let remortgage searches were down 17.29%
- Residential purchase mortgage searches were down 7.16%
- Residential remortgage searches were down 23.91%
- Searches by First Time Buyers were down 10.44%
Searches for fixed mortgage products in January 2025:
- Two-year fixed mortgages accounted for 41.13% of all fixed product searches compared to 49.51% in January 2024
- Three- to five-year fixed mortgages accounted for 35.73% of all fixed product searches compared to 31.04% in January 2024
- Five- to ten-year fixed mortgages now account for 23.14% of all fixed product searches compared to 19.45% in January 2024
In addition, Twenty7tec has seen significant growth in certain areas, particularly in mortgage submissions and affordability searches. APPLY submissions were up by 17% year-on-year (YOY) in January 2025, despite a 16% YOY decrease in mortgage illustrations. This marks the company’s third biggest month since January 2022.
Moreover, affordability usage and searches hit a new high in January 2025, with a 28% increase over the previous record, reinforcing the growing importance of affordability tools for financial advisers.
Nathan Reilly, director at Twenty7tec, says:
“January was definitively busier than December - in some cases, mortgage search volumes nearly doubled compared to the prior month. Yet it fell short of the major highs that we saw in January 2024, which really set the tone for the year to come.
“December felt very quiet through a combination of the holidays and the pre-Christmas interest rate decision. So we had a sense that there was pent-up demand in the market, which was realised in January as purchase and remortgage searches rose 85.07% and 82.64%, respectively, month on month.
“The one area of the market where we might have expected a little more activity was in self employeds. January marks the end of their tax year and, as their financial position becomes clearer, many of those who own or run their own businesses look to mortgage or remortgage. But this January was down 11.6% on volumes compared to January 2024.
“There was definitely a delay in the market getting going in January compared to 2024 when, first day back, we hit the ground running. That most likely means that there’s going to be more pent-up demand finding its way to market over coming days and that February will be off to a flier. We’ll see."
