Buy to let mortgage searches ease in July

Buy to let mortgage searches slipped in July as landlords continued to weigh borrowing costs, taxation and regulation before committing to new deals.

Research firm Twenty7tec said BTL search volumes remained slightly below their level a year earlier, while residential purchase searches also fell 3% compared with June.

Across the mortgage market, 1,790,196 searches were recorded during July, up 1% on June and broadly unchanged from July 2025.

The figures came as remortgage activity moved sharply in the opposite direction, with residential remortgage searches rising 7% during the month.

Remortgage searches rise

The firm’s head of lender, Nakita Moss, said: “July’s data suggests the mortgage market remains on a steady footing.

“Total search activity edged up by 1% compared with June and remained broadly in line with the same month last year, showing advisers and borrowers continue to engage despite ongoing economic uncertainty.”

She added: “Remortgaging was the standout story this month, with searches up 7% month on month and 5% year on year.

“As more borrowers reach the end of existing fixed-rate deals and lender competition remains strong, advisers have an important role to play in helping clients navigate an increasingly competitive market.”

Landlords weigh costs

Residential remortgage searches reached 700,628 in July, also 5% higher than a year earlier.

By contrast, landlords searching for buy to let mortgages remained slightly less active than in July 2025.

Twenty7tec said the figures reflected landlords assessing borrowing costs alongside taxation, regulation and the longer-term case for property investment.

Residential buyers were cautious too, with first-time buyer searches falling 4% during July despite remaining slightly ahead of their level a year earlier.