Barclays says remortgaging is taking a bigger share of mortgage completions while house purchase delays remain widespread, with its latest Property Insights release showing 88 percent of buyers and sellers reporting hold-ups in the buying process.
The data points to a two-speed market. First-time buyers are still struggling with deposits and high prices, while existing borrowers are moving earlier to fix new rates as affordability pressure and economic uncertainty shape decisions.
For landlords, the report matters less for what it says about owner-occupiers than for what it signals about the wider market. Slower transactions can affect exit timings and chain risk, while stronger remortgage activity suggests borrowers are still using refinancing to manage costs and lock in certainty.
Remortgaging rises as buyers face delays
Barclays said remortgages made up 40.6 percent of its mortgage completions in May, up from 30.7 percent a year earlier. At the same time, the lender said the average time from final mortgage offer to completion rose 21.7 percent year on year, with conveyancing issues, estate agent delays and a shortage of suitable properties among the main reasons given by buyers and sellers.
That sits alongside this week’s Landlord Knowledge coverage of the Bank of England’s decision to hold Bank Rate at 3.75 percent, which kept pressure on landlord borrowing costs even as markets continued to look for the next cut.
Jatin Patel, head of mortgages, savings and insurance at Barclays, said buyers were still finding ways to adapt, but affordability pressure had not gone away. He said first-time buyers remained constrained and many were making trade-offs on location or property features to get onto the ladder.
Deposit pressure eases, but affordability has not gone away
Barclays said the average deposit fell 16.4 percent year on year to £57,209 in May. London recorded one of the sharpest drops, down 27.2 percent to £136,057, while the South East and East Anglia also saw sizeable falls. Even so, 37 percent of renters still named the deposit as the main barrier to homeownership, with 36 percent pointing to high property prices.
This follows Landlord Knowledge’s report on the government’s homebuying reform plan and renewed pressure for sales packs, which also pointed to a market where delays and process friction remain a serious issue for sellers and buyers alike.
One practical takeaway for landlords is that a slower owner-occupier market can still shape investor decisions. Owners planning to sell into a chain may face longer timelines, while landlords coming off cheaper fixed deals may see the appeal of refinancing earlier rather than waiting for rates to move further.
The Barclays release also said 42 percent of mortgage holders were now more likely to lock in a remortgage rate early. The lender’s Barclays press releases page says the findings come from its Property Insights series, which combines Barclays mortgage completions data with Opinium consumer research.
What this means for landlords
- If you’re refinancing in 2026: lenders still see strong remortgage demand, so leaving rate decisions too late could limit options if pricing turns.
- Watch for: longer sale and purchase timelines if you are exiting stock or buying through a chain, especially where conveyancing delays build.
- Bottom line: deposit pressure may be easing for some buyers, but the market still looks slow and cost-sensitive rather than fully recovered.
Editor’s view
The most useful point here for landlords is not the first-time buyer data but the shape of the market around it. Refinancing activity is staying firm because certainty still carries a premium, and a slower sales pipeline means timing risk remains part of any investment decision.
Author: Editorial Team – UK landlord & buy-to-let news, policy, and finance
Published: 23 June 2026
Sources: Barclays Property Insights, Barclays Mortgages, Opinium Research
Related reading: Bank of England holds Bank Rate at 3.75% as landlord borrowing stays high
