Just Mortgages comments on BoE MPC decision

19 March 2026

John Phillips, CEO of Just Mortgages and Spicerhaart, said:

“It’s a relief to see the MPC sit on its hands at its first meeting since the Middle East conflict. Speaking with industry colleagues, there was certainly a worry that we would see the central bank react with a rate rise. That said, it’s hard to predict where we go from here and what the future path of interest rates now looks like. So much depends on how drawn out this conflict becomes and the impact it has on prices and inflation more broadly. We shouldn’t rule out the prospect of increases in the future.

“It has certainly sent shockwaves through the mortgage market and forced many lenders to quickly remove and re-price products. As a result, we have seen around a 20% increase in remortgage business over the last week or so as clients looked to secure rates before they were pulled. Brokers have been putting in the hard graft and working late to ensure applications are submitted and rates are secured. Beyond that, we haven’t seen a real drop off in buyer registrations, valuation requests or mortgage appointments, signalling that the wider turmoil and uncertainty hasn’t yet filtered through to all buyers and movers. People are still getting on with the task at hand and are seeking expert advice to do so.

“It’s a real example of where advisers prove their value. As clients continue to navigate a volatile market in the coming days, weeks and months, it’s crucial that we remind them of that value and the expertise we can offer. While rates may be shifting, all is certainly not lost – there still plenty of opportunities out there in the market. It’s up to us to be proactive and to share our knowledge.”