The number of homeowners choosing to refinance instead of move house is increasing, with data from Twenty7tec revealing remorgaging figures are almost level with those buying a new home.
In July, the mortgage tech company’s advisers handled 885,774 remortgage searches compared with 938,060 purchase searches – taking remortgage searches to 94% of purchase volumes. In the same month a year ago the figure was 75.4%, and in 2021 remortgaging accounted for just 56% of purchase volumes.
Nathan Reilly, director at Twenty7tec, explained:
“Rising costs, rate uncertainty and stretched affordability are all reshaping homeowner behaviour – and the data shows it. Homeowners are increasingly choosing to stay put and refinance rather than take on the financial and logistical challenges of moving.
“Many are opting to reinvest in their current property instead. Higher mortgage rates have also made upsizing harder, particularly for those who locked in ultra-low deals just a few years ago.
“On top of that, with many buyers getting onto the property ladder later in life, their focus is often on securing rate certainty, reducing monthly payments, or releasing equity – not moving up the ladder at speed.”
The remortgage-to-purchase ratio has risen for three consecutive years, Twenty7tec added, with remortgage cases reaching 5.96 million in the first seven months of 2025 – putting the company on track for one of the busiest years for refinancing in recent history.
