Buy to let purchase mortgage searches fall 25%

Buy to let purchase mortgage searches fell 25% in October compared with the same month last year, research reveals.

Landlords looking to refinance moved in the opposite direction, with remortgage searches up 2% annually.

Twenty7tec’ latest Mortgage Market Snapshot recorded 273,330 buy to let searches during the month.

That total was down 7% against both September and October last year.

Landlord mortgage activity

The firm’s head of lender, Nakita Moss, said: “October highlights a market moving at different speeds.

“Remortgaging remains resilient, purchase activity is more cautious and landlords continue to face their own challenges.”

She added: “As we approach the end of 2026, understanding these differences will be essential for lenders and advisers looking to respond to changing borrower needs.”

Residential remortgage searches rise

Meanwhile, residential remortgage searches reached 820,865 in October, up 37% year on year.

Residential purchase searches fell 4% compared with September and 1% annually, to 592,572.

First-time buyer searches increased 1% on a year earlier to 138,315.

Across the mortgage market, total searches stood at 1,825,082, down 5% over the month but 12% higher than last October.

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