Figures show advisors searching for more remortgage products
May 14, 2025 by Alan
Mortgage Advisors
News
The number of searches for remortgage products carried out by mortgage advisors rose during the first quarter of the year, according to the latest figures released by Legal & General.
These figures are taken from searches conducted using the Ignite platform run by Legal & General. They show that searches for remortgage products rose by 34% during the first quarter of 2025, when compared with the previous quarter.
The most likely explanation for that sudden spike is the fact that a lot of fixed rate deals are due to end this year. The estimated number of them is 1.8 million.
As a result of this, many borrowers appear to have already contacted advisors about seeing what options are available to them. It represents a possibly lucrative income stream for advisors over the next few months.
One aspect of the data issued by Legal & General that is somewhat surprising concerns the age of the borrowers involved. When it comes to people aged 65 and above, there has been a rise of 76% in remortgage searches.
This points to higher numbers of people still paying off mortgages after their retirement. Again, this could create an opening for advisors who are qualified to guide people on equity release and RIO products.
Talking to Mortgage Introducer, Kevin Roberts from Legal & General said:
“Remortgaging can often be overwhelming for consumers, regardless of age, but this is where professional mortgage advice steps in.”
Some advisors follow up their CeMAP qualification with the CeRER one, so they can offer equity release advice.
Written by
Alan
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