Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

First-Time Buyer and Home Mover Markets Show Resilience in Q2 2026

Mortgage applications in the UK declined in Q2 2026, but the drop was less pronounced among first-time buyers and home movers compared to remortgage applications, according to data from HSBC and CACI. The total number of mortgage applications fell by 19% between Q2 and Q1, while first-time buyer applications were down 9% and home mover applications decreased by 8%.

Remortgage applications saw the largest decline, dropping by 38% quarter-on-quarter. Year-on-year, total mortgage applications were down 9% in Q2 2026 compared to the same period in 2025. First-time buyer and home mover applications both fell by 8% year-on-year, while remortgage applications declined by 12%.

HSBC reported that trends in loan-to-value (LTV) ratios reflected the relative resilience of first-time buyers. Applications for mortgage products with an LTV of more than 90% were down just 6% on the previous quarter.

On a regional basis, all mainland regions of Great Britain experienced a fall in new mortgage application volumes between Q2 and Q1. London saw the largest quarterly decline at 25%, while Scotland was the most resilient, with applications down 9%. Year-on-year, London again had the most pronounced decrease at 17%, followed by the South East at 14%. The East of England saw a comparatively small fall of 2% in application volumes and was the only region to record a 1% increase in the value of applications year-on-year.

These trends may be relevant for letting agents and inventory clerks monitoring market activity, as shifts in first-time buyer and home mover behaviour can impact rental demand and property turnover.