Buy-to-let (BTL) mortgage searches dropped to 14.74% of the market in April 2025, the lowest share since January 2020, according to Twenty7tec data.
Research revealed that self-employed mortgage searches hit record levels at the end of April, and there was a shift towards shorter-term fixed mortgages, with 44.13% of searches focused on two-year or shorter terms, up from 40.95% in March.
Additionally, data showed that four of the seven busiest days on record for european standardised information sheet (ESIS) documents in the 90% plus loan-to-value (LTV) market happened in April.
There was also a rise in residential purchase searches, with two days ranking in the twenty busiest days ever.
Product availability peaked at 25,266 early in the month, with a slight increase in the overall product count by the end of April.
Nathan Reilly, director at Twenty7tec, said: “April’s mortgage market painted a picture of contrasts. Just last month, buy-to-let searches were among the highest we’ve ever recorded.
“Fast forward to April, and we’re seeing the lowest share of the market for BTL activity since we began tracking – particularly in the £150k–£250k range, where searches fell by more than 24%.
“At the same time, first-time buyer interest remained strong, making up nearly a quarter of all search activity – a trend we’ve now seen for five consecutive months.”
Reilly added: “More widely, we saw signs of borrowers seeking greater flexibility – with growing demand for shorter-term products and average applicant salaries reaching new highs.
“We also saw a sharp rise in searches from self-employed applicants, perhaps another reflection of a market adapting to uncertainty.
“April’s figures show that the market is still very much in motion, with advisers and customers responding in real time to shifts in product availability, affordability, and wider sentiment.
“And as for the BTL market – is this just a blip, or are we seeing the start of a longer-term shift?”
He said: “Either way, we encourage advisers and lenders to keep a close eye on how things unfold in the months ahead.”
