Buy to Let Mortgage Searches Fall in December

Mortgage search activity for buy to let properties cooled sharply in December 2025, with figures from Twenty7tec showing a 23.06% month-on-month decline to 189,902 searches. This reduction coincides with the traditional festive period slowdown as both advisers and borrowers temporarily stepped back from the market. However, when compared with December 2024, buy to let mortgage searches were still 7.35% higher, suggesting that the sector continues to attract interest rather than experiencing a structural retreat.

Overall Mortgage Market Trends

The decline in buy to let searches forms part of a broader seasonal dip across the mortgage market. Total mortgage searches in December reached 1,088,120, down 22.6% from November but 10.75% higher than the same month the previous year. This points to a resilient underlying demand despite the month-on-month slowdown.

Residential remortgaging remained a key driver of mortgage adviser activity, with 431,990 searches recorded in December. Although this was a 19.05% fall from November, it represented a significant 29.31% increase year-on-year. In contrast, purchase demand showed signs of strain: first-time buyer searches dropped 24.93% month-on-month to 199,393, with only marginal annual growth of 0.78%. Excluding first-time buyers, purchase searches fell 27.39% compared to November and were 3.36% lower than December 2024, reflecting ongoing affordability challenges and cautious buyer confidence.

Seasonal Patterns and Market Outlook

Nathan Reilly, commercial director at Twenty7tec, commented on the data: “What December really underlines is the stop-start nature of the mortgage market we’ve seen throughout 2025.” He noted that remortgaging activity has consistently been more resilient than purchase demand throughout the year, a trend that continued into the final months.

Reilly emphasised that the sharp drop in December is seasonal and expected, but the year-on-year figures demonstrate that “underlying intent hasn’t disappeared.” He added, “Borrowers are active, but they’re taking longer to move and being far more selective about timing.” For mortgage advisers and landlords, this means maintaining close contact with clients during longer decision cycles is increasingly important.

Implications for UK Landlords and Letting Agents

The data suggests that while buy to let mortgage searches have temporarily dipped, the overall interest in the sector remains robust compared to last year. Landlords and letting agents should be aware that potential borrowers may be more cautious and deliberate in their approach, potentially extending the time taken to complete transactions.

Affordability pressures and economic uncertainty continue to weigh on purchase demand, particularly among first-time buyers and non-first-time purchase searches. However, the steady level of remortgaging activity indicates that many landlords are looking to optimise their existing mortgage arrangements, which could impact investment strategies and portfolio management decisions.

Understanding these seasonal and market dynamics can help landlords and agents better anticipate client behaviour and adapt their advice and services accordingly.

Suggested internal link anchors

• buy to let mortgage searches
• mortgage market trends
• residential remortgaging
• first-time buyer searches
• affordability pressures
• mortgage adviser activity
• buy to let market
• landlord investment strategies
• property market seasonal trends
• mortgage decision cycles

TLA update

TLA is launching a new Trusted Partners Hub in Q1 2026, featuring verified and approved service providers selected to support landlords, tenants, and property management businesses. We are inviting legal, trades, insurance, financial, mortgage, tenant screening, and other service providers to register their interest here: https://landlordassociation.org.uk/become-a-tla-service-partner/