Mortgage Market Report – January
January 2025
Mortgage Market Activity
05.01.25
Twenty7tec, the leading adviser tech provider, has announced mortgage market statistics for January 2025 as follows:
The data:
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 2024:
- 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
Nathan Reilly, Director at Twenty7tec, says:
“As expected, December activity slowed even though we had a Bank of England rate decision just before Christmas. We’ve seen much of the pent-up demand in prior December’s come into the market in the subsequent January, so we’re hopeful that this period will once again be busy. If there had been an interest rate drop in late December, I think we’d be predicting a very busy market for the next few weeks.
“On the rate decision day – 19 December 2024 – we saw record high number of mortgage products on our systems with 24,264 available.
“There’s been talk in the market of the biggest ever Boxing Day bounce – when people begin to look at new properties, which will result in busier times for advisers over coming weeks.
“January is also likely to be busy – especially in the second half – with self-employed individuals looking for new mortgages as their tax bills are due January 31st and financial clarity means that more of them make decisions at this time of year about buying, remortgaging or moving home. 2024 was the busiest ever year on record for self-employed people looking for mortgages on our systems, 7.47% on the prior year.”
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