There was a significant increase in remortgaging activity in the UK’s housing market during the first quarter of 2025, according to research by Legal & General (L&G).

New proprietary data from L&G’s Ignite platform showed that broker searches for remortgage products increased by 34% in Q1 2025 compared to Q4 2024.

An estimated 1.8 million fixed rate mortgage deals are set to mature in 2025, according to figures from banking trade body UK Finance, which L&G suggested is driving the surge in recent remortgage search activity.

L&G’s Ignite data highlighted a 76% increase in brokers searching for remortgage products for those aged 65 and over, suggesting older homeowners are now paying mortgage debt close to or through retirement.

Remortgage product searches for the 41 to 50-year-old age group increased by 53%, which was closely followed by those aged 18 to 30 (36%) and those aged 31 to 40 (36%).

L&G’s managing director, mortgage services, Kevin Roberts, said: “Remortgaging can often be overwhelming for consumers, regardless of age, but this is where professional mortgage advice steps in.”

Between Q1 2025 and Q4 2024, L&G also observed a 60% increase in searches for 91-95% loan-to-value (LTV) products and a 56% rise in searches for 86-90% LTV products.

The most common property values searched for on behalf of remortgaging customers fell into the £250,000 – £450,000 range, which accounted for 44% of all searches.

“Although the current geopolitical environment could prompt rate reductions by the Bank of England, many of those remortgaging are still facing higher rates than they are used to,” added Roberts. “An adviser can guide borrowers through their options, offer access to exclusive deals, and help them make the right choice for their circumstances.”

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