Just Mortgages comments on BoE MPC decision

05 February 2026

Ben Allkins, head of mortgages and protection at Just Mortgages, said:

“The decision to hold the base rate was widely expected and consistent with the bank’s long-held approach. However, it’s clear that the optics around this decision have shifted. We’ve all seen mortgage rates edge back up as swap rates react to the growing expectations of fewer cuts. It’s a reminder to brokers and the wider market to not count its chickens – particularly given the challenges at home and abroad.

“For brokers, it’s a moment to be proactive. In particular, we need to be engaging with those clients who may have been holding off in the hopes of further competition and movement on rates. The focus has the shift away from a rate conversation and one that prioritises top quality, holistic advice – helping borrowers navigate the market and explore the wide variety of options still available to those from all backgrounds and circumstances.”