Remortgage searches climbed sharply to 820,429, a double-digit rise of 10.70% in August and up 14.59% compared with September 2024. First-time buyers saw only a slight monthly improvement of 2.57%, but are down 7.63% year on year, with their share of overall activity slipping from 19.24% in August to 18.36% in September. Yes, overall activity is up, but it is being propped up by remortgaging. “Purchases, and first-time buyer demand in particular, remain weak, and that is a concern for the long-term health of the market. “At the same time, they should be preparing first-time buyers with realistic affordability scenarios and supporting them through a tougher journey to purchase.