This is according to a recent survey by online mortgage broker, Trussle, which has discovered 56% were moving to a new home compared to 44% who were taking out a remortgage.

It comes a contrast to the same time last year when the majority of homeowners (63%) were remortgaging while only 37% were moving house.

Indeed, the broker said this represented ‘a remarkable turnaround’ from the beginning of the year, when remortgaging became a focus for homeowners seeking to shore up their finances as the economic climate became increasingly uncertain.

Trussle said remortgage applications in January were up 196% month-on-month. Then the outbreak of Covid-19 in the early months of the year initiated a desire amongst homeowners to ensure finances were in order, which meant remortgage applications jumped 54% during March.

However, Trussle saw the number next-time buyers surge by over 73% in June, as reports of a possible stamp duty holiday gained momentum.

This interest has intensified and demand had been so strong over the autumn months causing delays now being experienced in the market.

Miles Robinson, head of mortgages at Trussle, said: “After an uncertain year, it’s encouraging to see house prices rising and the property market moving, with a sustained interest for house moves.

He added: “In these unprecedented times, we’d encourage those who are concerned about their finances to keep an eye on their mortgage.”

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