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Based on Imla's latest survey of intermediaries, 49 per cent of all mortgage cases introduced were remortgages, up from 48 per cent in the previous quarter.

However, the figures also revealed home mover mortgage business had fallen from 23 per cent to 20 per cent in two months.

First-time buyer loans increased slightly from 10 per cent to 11 per cent, according to advisers polled by Imla. 

Peter Williams, executive director for Imla, said: "With the current rebalancing of the market, it is becoming more difficult for non-standard borrowers to secure a loan to meet their circumstances. 

"As a result we have seen standard status mortgages grow as a proportion of the total and a slight decline in non-conforming and self certification business.  It is important that such borrowers turn to an adviser who has the expertise and knowledge of the market to help them find a suitable product.

"With home-buying activity currently depressed and many fixed rate and discounted deals up for renewal, there has been an increase in remortgaging business. 

"In some cases, however, borrowers will struggle to remortgage and may end up paying significantly more once they switch to the lender’s standard variable rate."