Economic uncertainty drives 2.15m surge in mortgage searches

Twenty7tec’s latest Mortgage Market Snapshot has found that mortgage adviser activity rose sharply in March as borrowers responded to ongoing economic uncertainty and shifting mortgage pricing, with total searches reaching 2,150,593.

Data from INSIGHT Pro shows this represents a 19% increase compared with February and a 17% rise year on year, marking the highest level of activity so far in 2026.

The increase comes against a backdrop of continued global and domestic economic pressure. Volatility in energy markets, geopolitical tensions and changing inflation expectations have all contributed to movement in swap rates and mortgage pricing in recent months, prompting borrowers to act more decisively.

Remortgaging remained a key driver of activity. Residential remortgage searches rose to 907,610 in March, up 32% month on month and 37% higher than the same period last year, as borrowers approaching the end of existing deals moved quickly to secure new rates.

Purchase activity also strengthened despite ongoing affordability challenges. Residential purchase searches reached 725,485, up 8% compared with February, and 5% year on year, suggesting underlying demand remains resilient. First-time buyer searches increased by 5% month on month to 173,752, although activity remains slightly below last year’s levels.

The buy-to-let market saw renewed momentum, with total searches reaching 343,746, up 18% from February and 12% higher year on year, as landlords continue to reassess borrowing strategies amid evolving economic conditions.

The report also highlights a shift in the types of cases advisers are handling. Searches relating to applicants on visas moved to the top of criteria queries in March, reflecting a growing number of complex borrower scenarios and a broader mix of client profiles entering the market.

While recent global developments have begun to ease some market pressures, uncertainty remains a key factor shaping borrower behaviour. The March data suggest that advisers are navigating this environment in real time, balancing affordability challenges with continued demand across both purchase and remortgage segments.

Nathan Reilly, chief customer officer at Twenty7tec, said: "The data highlights how closely borrower behaviour is linked to wider economic signals.

"The increase in search volumes reflects a market reacting to a mix of improving momentum and ongoing uncertainty. On the global side, volatility in energy markets and wider geopolitical tensions have continued to influence inflation expectations and mortgage pricing, while here in the UK, borrowers are still navigating affordability pressures."