Buy to let mortgage searches fall again

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Buy to let mortgage searches fall again

Mortgage searches fell again in May, with 1,590,911 being carried out, down 7% on April’s figure and 15% below May 2025.

The data from Twenty7tec reveals that buy to let followed the same direction, with total BTL searches falling 9% to 249,403.

BTL purchase searches were 22% lower than the same month last year.

Residential searches stood at 1,341,508, a 7% monthly fall and 16% lower year on year.

Residential purchase searches dropped 5% to 626,029, while first-time buyer searches slipped 4% to 152,355.

Mortgage market adjusting

The firm’s chief customer officer, Nathan Reilly, said: “After the heightened levels of activity seen earlier in the year, May’s data suggests the market has entered a more cautious phase.

“One of the most interesting aspects of this month’s report is the continued demand for complex lending criteria.

“Joint borrower sole proprietor enquiries returned to the top of the rankings, alongside searches relating to visas, foreign nationals, adverse credit and self-employed applicants.”

He added: “These remain some of the most common questions advisers are seeking answers to, reinforcing the increasingly specialist nature of mortgage advice with a human touch.

“May’s figures do not necessarily point to a market in decline, but rather one that is continuing to adjust following the heightened activity seen earlier in the year.”

BTL remortgage search

Remortgage searches saw some of May’s steepest falls with residential remortgage searches dropping to 563,124, down 9% on April and 21% below May 2025.

Buy to let remortgage searches also fell by 9% month on month.

However, product availability increased during May after falling in April, with lenders continuing to alter product ranges while adviser activity eased.

The criteria search figures also point to more complex borrower cases being handled by advisers.

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