While Q2 2026 saw an overall decline in mortgage applications across all borrower segments, this was much less pronounced among first-time buyers and home movers compared to remortgage applications, HSBC reveals. Data from CACI found that the total number of mortgage applications was down by 19% between Q2 and Q1, but applications from first-time buyers were down just 9%, while home mover applications reduced by 8%. The overall fall in applications was mainly driven by remortgage applications, which were down 38%. First-time buyer applications were down 8% over the same period, while remortgage applications fell by 12% and home mover applications were down 8%. HSBC says the picture around first-time buyers was reflected in LTV trends.