A slight overall dip in enquiries was tempered by record-breaking searches for self-employed mortgages in April, according to the latest mortgage activity data from by Twenty7tec.
The financial services platform reported ‘a small nudge downwards’ in purchase mortgage search activity, with a drop of 3.5% in April compared to the previous month. However, CEO James Tucker notes that with two bank holidays in the month this is ‘less than you might expect’.
‘April 2025 gave us plenty to talk about,’ Tucker added. ‘A month of sharp contrasts and record-breaking activity across several fronts’.
Self-employed searches saw the largest increase, reaching record levels on the 28th and 29th April. First time buyer searches grew for the fifth consecutive month and made up over 18% of all enquiries.
There was a strong end to the month in terms of adviser activity, Twenty7tec notes, with four of the top seven busiest days ever recorded for ESIS documents in the 90%+ loan-to-value market and a noticeable rise in residential purchase searches – including two days that ranked in the 20 busiest days on record.
Buy-to-let (BTL) searches fell to 14% of the overall market – the lowest share recorded since Twenty7tec began reporting in January 2020.
Nathan Reilly, director at Twenty7tec, said of the figures:
“April’s mortgage market painted a picture of contrasts. Just last month, buy-to-let searches were among the highest we’ve ever recorded. Fast forward to April, and we’re seeing the lowest share of the market for BTL activity since we began tracking – particularly in the £150k–£250k range, where searches fell by more than 24%. At the same time, first-time buyer interest remained strong, making up nearly a quarter of all search activity – a trend we’ve now seen for five consecutive months.
“More widely, we saw signs of borrowers seeking greater flexibility – with growing demand for shorter-term products and average applicant salaries reaching new highs. We also saw a sharp rise in searches from self-employed applicants, perhaps another reflection of a market adapting to uncertainty.
“April’s figures show that the market is still very much in motion, with advisers and customers responding in real time to shifts in product availability, affordability, and wider sentiment. And as for the BTL market – is this just a blip, or are we seeing the start of a longer-term shift? Either way, we encourage advisers and lenders to keep a close eye on how things unfold in the months ahead.”
Activity in London showed a healthier market than the UK overall, with searches up 4.1% in the capital compared to a dip of 3.7% nationwide.
