Data reveals big annual increase in mortgage applications

October 16, 2025 by Brendan O'Neill

Surveys and Statistics

The latest mortgage market data reveals that there was a big increase in the number of applications during September, in comparison to the same month for last year.

Over the course of that month, the volume of applications rose by 22.7% compared with September 2024. One of the biggest factors in that rise is almost certainly the more favourable situation when it comes to mortgage rates. The average rate in September 2025 was 32 basis points lower than that of 12 months earlier. This data was published by the mortgage network Stonebridge.

What it also reveals is that fixed rate mortgages are still the preferred option for many borrowers, but that they are opting for short rather than longer-term fixes. 63.7% of those agreed in September of this year were three-year fixes or less, compared with 56% 12 months ago.

Another important finding of the Stonebridge data is that remortgaging still accounts for the majority of applications. It made up 61.5% of them, whereas last September that figure was 57%. That puts it well ahead of purchase application numbers.

Given that 1.6 million fixed rate mortgages will be coming to a close by the end of this year, the number of people remortgaging could well rise further.

The Stonebridge chief executive is Rob Clifford. Speaking to Financial Reporter, he said that:

“The mortgage market is shifting up a gear. Applications rose 22.7% year-on-year in September – a clear sign that confidence is returning, even in the face of wider economic headwinds.”

Advisors with the CeMAP qualification may feel the need focus on remortgages as a result of news like this.