Surge in activity creates opportunity for brokers
Mortgage brokers are seeing a strong start to the year in remortgaging activity, as new figures from Legal & General’s Ignite platform reveal a 34% quarter-on-quarter increase in broker product searches.
The spike aligns with a wave of fixed rate mortgages due to expire this year — estimated at around 1.8 million — offering brokers an opportunity to engage clients ahead of renewals.
One of the more striking trends in L&G’s Q1 data is a 76% rise in remortgage searches for borrowers aged 65 and older. This shift signals that more homeowners are managing mortgage repayments into later life, presenting a niche but growing market for brokers with expertise in later life lending, retirement interest-only (RIO) products, and equity release alternatives.
Younger cohorts are also active, with search activity among 41- to 50-year-olds up 53%. Meanwhile, both 18- to 30-year-olds and 31- to 40-year-olds posted 36% increases. This broad demographic spread suggests brokers should be ready to tailor advice across a wide spectrum of financial goals and levels of mortgage experience.
The uplift in broker activity appears to be translating into completed instructions. LMS’s latest Remortgage Snapshot reported a 23% surge in remortgage instructions in March, indicating that consumer hesitancy may be softening. Brokers should be prepared to handle time-sensitive refinancing queries as clients race to secure deals before further rate shifts.
Despite expectations that the Bank of England may cut rates later this year, many borrowers are still rolling off historic lows into costlier deals. This rate differential underlines the need for brokers to explain repayment implications clearly and showcase the long-term value of advice.
Another trend that may benefit brokers is a notable rise in demand for higher loan-to-value products. Between Q4 2024 and Q1 2025, searches for 91 to 95% LTV mortgages jumped 60%, with 86 to 90% LTV searches up 56%.
This demand is likely fuelled by two groups: clients with limited equity and those looking to help family members through intergenerational lending—the so-called Bank of Family. The most common remortgage search band was for properties valued between £250,000 and £450,000, accounting for 44% of all cases.
This trend may create new advisory opportunities for brokers who can effectively position family-assist lending strategies and help clients navigate higher LTV options amid tighter affordability rules.
Kevin Roberts (pictured), managing director of mortgage services at Legal & General, reinforced the value of broker input in the current landscape.
“Remortgaging can often be overwhelming for consumers, regardless of age, but this is where professional mortgage advice steps in,” Roberts said. “Although the current geopolitical environment could prompt rate reductions by the Bank of England, many of those remortgaging are still facing higher rates than they are used to. An adviser can guide borrowers through their options, offer access to exclusive deals, and help them make the right choice for their circumstances.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
