Britain’s movers are “hitting the brakes” as the ratio of remortgage searches to purchase mortgages soars ahead, according to new figures from finance tech company Twenty7tec.

Analysing data from July 2025, it found that advisers handled 885,774 remortgage searches compared with 938,060 purchase searches, a ratio of 94%. This is a significant rise from the 75.4% ratio 12 months ago. In 2021 – most likely due in part to the Covid-19 pandemic –remortgaging accounted for just 56% of purchase volume. It’s the third year in succession that the ratio has risen.

Remortgage cases have already reached 5.96 million halfway through the year, Twenty7tec’s data shows, meaning advisers are on track for one of the busiest years for refinancing in recent history. It puts this down to With, the latest data from the leading mortgage tech firm shows remortgaging figures are almost level with those buying a new home.

Nathan Reilly, director at Twenty7tec, explains: “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.”