July saw rise in mortgage application numbers

August 12, 2025 by Brendan O'Neill

Surveys and Statistics

There was a sizeable annual rise in the number of mortgage applications that were submitted during July, according to new data that has just been released.

This data comes from Stonebridge, the protection and mortgage network. What it shows is a rise of 9.2% in the number of applications compared with the same month for last year. That increase has happened at the same time as average mortgage rates have been falling. These have come down by 62 basis points in comparison with July 2024, which leaves them at 4.44% right now.

It is clear that the two things are linked, because the reduced rates mean lower monthly mortgage payments for borrowers. When looked at for the year as a whole, they have saved the average borrower around £890.

In terms of the types of applications that were submitted in July, the majority were remortgage ones. They accounted for close to 60% of all transactions throughout the month. The main reason for that is the number of fixed-rate mortgages that are coming to a close. This has led borrowers to search out better deals.

Most of them opted for another fixed-rate loan, with this being chosen by 96% of borrowers during July. The Stonebridge chief executive, Rob Clifford, spoke to Mortgage Introducer about the figures:

“After a bruising couple of years, the mortgage market is starting to find its feet again, with falling rates boosting activity and giving a much-needed confidence boost to borrowers.”

This is news that anyone with the CeMAP mortgage advisor qualification will welcome.