Remortgage and buy-to-let activity record steepest monthly declines; complex cases dominate adviser searches
Total mortgage searches in the UK fell to 1,590,911 in May 2026, down 7% from April and 15% lower than in May 2025, according to Twenty7tec's latest Mortgage Market Snapshot.
Residential searches, which accounted for the bulk of activity at 1,341,508, were down 7% on the month and 16% year on year. Residential purchase searches declined 5% to 626,029, while first-time buyer searches fell 4% to 152,355.
Remortgage activity recorded some of the steepest falls. Residential remortgage searches dropped 9% month on month to 563,124 and were 21% lower than a year earlier. Buy-to-let remortgage searches also fell 9% over the same period.
The broader buy-to-let market mirrored that trend. Total BTL searches fell 9% to 249,403, and BTL purchase searches were 22% below their May 2025 level.
Despite the softer search data in the May report, mortgage product availability increased during May following a decline in April, suggesting lenders continued to adjust their ranges in response to shifting market conditions.
Mortgage products available, by month 
Source: Twenty7tec's INSIGHT Pro platform
Criteria search data pointed to the continued complexity of cases being handled by advisers. Joint Borrower Sole Proprietor (JBSP) enquiries returned to the top of the rankings, alongside searches relating to visa applicants, non-UK nationals, adverse credit, and self-employed borrowers.
"After the heightened levels of activity seen earlier in the year, May's data suggests the market has entered a more cautious phase," said Nathan Reilly (pictured right), chief customer officer at Twenty7tec.
"One of the most interesting aspects of this month's report is the continued demand for complex lending criteria. JBSP enquiries returned to the top of the rankings, alongside searches relating to visas, foreign nationals, adverse credit and self-employed applicants. These remain some of the most common questions advisers are seeking answers to, reinforcing the increasingly specialist nature of mortgage advice with a human touch.
"May's figures do not necessarily point to a market in decline, but rather one that is continuing to adjust following the heightened activity seen earlier in the year."
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