Twenty7tec has reported a significant increase in first-time buyer mortgage searches, with January 2025 activity up 91.44% on the previous month (292,890 searches compared to 152,994 in December 2024). While this remains 10.44% below January 2024 levels, it marks the busiest month for first-time buyer searches since February 2024 and the sixth-busiest month ever.
January was also the tenth-highest month on record for first-time buyers as a proportion of total mortgage searches, accounting for 19.53% of the market. The number of ESIS (European Standardised Information Sheet) documents created for first-time buyers reached 109,551, the fourth-highest on record. First-time buyers represented 25% of total ESIS documents, the highest market share recorded since reporting began.
Nathan Reilly, director at Twenty7tec, said: “The year is off to a great start for first-time buyers, with mortgage searches up 91.44% on the prior month, making January the busiest month since February 2023 and the sixth-busiest month ever for first-time buyer mortgage search activity.
“Despite this, it’s important to note that although the month-on-month reporting is positive, mortgage searches by first-time buyers are still 10.44% down year-on-year compared to January 2023, reflecting ongoing affordability challenges and shifting market conditions. In other words, it’s good, but it has been better.
“However there’s still some cause for celebration, with first-time buyers creating a record month for market share in January, accounting for 25% of all ESIS documents created – the highest proportion since reporting began. Additionally, in the high-LTV, 90-100% mortgage market, first-time buyers made up 51.40% of activity, the highest share ever recorded on our systems.
“January 2025 saw 109,551 ESIS documents created for first-time buyers – the fourth-highest month on record.”
