"The starting gun has officially been fired for a potential spring mortgage price war" - Atom bank comments on ONS Private Rent and House Price data

18 February 2026

Chris Storey, Chief Commercial Officer, Atom bank

“This morning’s inflation data has poured fuel on a housing market that was already shifting into top gear. With inflation falling to 3.0%, the starting gun has officially been fired for a potential spring mortgage price war.

“Speed has rarely been more important. Not only has the ONS reported a rise in house prices today, but we’re seeing the average price tag push through the £300,000 barrier for the first time, according to Halifax. We face the prospect of buyers racing to lock in deals before further price growth erodes the benefits of the now widely expected base rate cut next month.

“With mortgage product choice at an 18-year high for those with low deposits and wages finally outstripping price growth, the pressure is now firmly on lenders and brokers to keep pace. Borrowers don't have time to hang about for weeks on end; they need a 'yes' in hours or days. In this market, transparency and underwriting speed aren't just 'nice-to-haves' - they are the only way to ensure buyers don't get left behind.”