The Intermediary – May 2025 - Flipbook - Page 36
RESIDENTIAL
Opinion
A critical
remortgage window
A
er a relatively
subdued year for
refinancing in 2024,
the remortgage
market continues to
show strong signs
of recovery in 2025. According to
UK Finance, 1.8 million fixed-rate
mortgage deals are due to expire this
year, up from 1.4 million in 2024. Off
the back of this, the trade body expects
a significant upli in refinancing
activity. With affordability gradually
improving, total remortgaging is
forecast to grow by 30% to reach £76bn
in 2025. Product transfer (PT) volumes
are also set to rise, though at a more
modest pace, up 13% to £254bn.
Data from CACI backs up this
outlook. Between July and December
2025, residential mortgage deals
worth £147bn are expected to mature,
a 49.3% increase compared to the
same period last year. This volume
of maturing business not only points
to clear growth potential, but also
highlights the ongoing importance of
client management.
The trend is already filtering
through in adviser behaviour. Figures
from Twenty7tec show a 13.8% rise
in remortgage searches in March
2025 compared with the previous
month. Residential remortgage
search volumes climbed by over 15%,
and buy-to-let (BTL) searches rose by
nearly 13%. In contrast, residential
purchase search activity fell by 2.23%
over the same period.
The message is clear: the remortgage
pipeline is bigger than it’s been in
years. But volume alone won’t convert
into business. Intermediary firms
must act early, engage meaningfully,
and plan their outreach properly to
make the most of the current window.
It’s vital to remember that, despite
the amount of information now
available, remortgaging still isn’t well
understood by many customers. That
lack of clarity leads to inaction and
missed savings. Intermediaries are
Intermediaries must act, engage and plan to make the most of the product transfer window
34
The Intermediary | May 2025
LEE CHISWELL
is head of mortgages
at Barclays UK
well placed to change this. A sharper,
more consistent approach to client
engagement could not only deliver
beer outcomes for borrowers, but
also strengthen retention and build
loyalty at a time when competition is
high and margins are tight.
Some simple steps to consider:
Start with your own client bank.
Too many clients fall onto a
standard variable rate (SVR) because
nobody checked in. Look for those
already on SVRs or approaching the
end of their deal. The data is there;
the value comes from how it’s used.
Be proactive, not reactive. Position
the review as a practical, holistic
check-up, not a sales pitch.
Build a retention strategy that
works. This doesn’t mean rolling
out a new system. A simple schedule
of reminders and timely contact
points can be enough, provided it’s
consistent and maintained.
Think relevance, not volume. Not
every customer needs to hear from
you all the time. Segment your
audience. Focus your efforts on the
clients who are ready or nearing a
decision point.
Keep your message clear. Less noise,
more clarity. One well-aimed, useful
message will always land beer
than five that aren’t joined up. Make
every touchpoint count.
None of these suggestions are
complex. That’s the point. The
remortgage opportunity is real and
immediate. What maers now is
execution: tightening up the basics,
refining your approach, and geing
closer to your client base.
Do that well, and you’ll deliver
stronger outcomes for your customers,
and generate a more resilient pipeline
for your business. ●
