Twenty7tec, the leading adviser tech provider, has announced mortgage market statistics for February 2025 as follows:
In February 2025, compared to January 2025:
· Purchase mortgage searches were down 0.05%
· Remortgage searches were down 5.39%
· Buy To Let purchase mortgage searches were down 1.85%
· Buy To Let remortgage searches were down 6.13%
· Residential purchase mortgage searches were down 2.28%
· Residential remortgage searches were down 5.64%
· Searches by First Time Buyers were up 0.44%
In February 2025, compared to February 2024:
· Purchase mortgage searches were down 3.61%
· Remortgage searches were down 29.90%
· Buy To Let purchase mortgage searches were down 14.23%
· Buy To Let remortgage searches were down 24.12%
· Residential purchase mortgage searches were down 2.01%
· Residential remortgage searches were down 32.27%
· Searches by First Time Buyers were down 0.62%
Searches for fixed mortgage products in February 2025:
· Two-year fixed mortgages accounted for 41.05% of all fixed product searches compared to 41.13% in February 2024
· Three- to five-year fixed mortgages accounted for 35.71% of all fixed product searches compared to 35.73% in February 2024
· Five- to ten-year fixed mortgages now account for 23.24% of all fixed product searches compared to 23.14% in February 2024
In February, Twenty7tec’s APPLY submissions were up by 13.39% year-to-date, on the same period in 2024.
Affordability remains incredibly important in the market and so it’s no surprise to see that February 2025 saw month-on-month growth of 39.9% in the use of affordability criteria and 78.5% growth compared to February 2024. This means that the use of our affordability criteria in mortgage searches for 2025 year to date is now 57.8% than the same period in 2024.
Nathan Reilly, director at Twenty7tec, says:
“February 2025 was a slightly slower month than we might have hoped for. There were some strong performances in the volumes of first time buyer mortgage searches but we plateaued in purchase mortgage searches overall.
“February 2024 was such a strong month and, indeed, the whole start to 2024 was so strong, that any subsequent years are going to struggle to compare. But away from those figures and compared to any other year, 2025 is off to a really good start.
“In particular, February 2025 was busy for First Time Buyers with the month recording the highest ever proportion of FTBs in the mortgage searches at 22.51%. New products and improved rates in the upper LTV ranges (90% and 95%) helped attract FTBs, it seems.
“March will be a telling month as Easter is later this year although eyes will inevitably turn to the Bank of England rate decision on the 20th as the MPC tries to balance the need for a growing, fully functioning market with inflationary pressures. We look forward to reporting on the outcomes in a few weeks’ time.”
