Just Mortgages comments on CPI Inflation

20 May 2026

Ben Allkins, Head of Mortgages and Protection at Just Mortgages, said:

“Inflation easing in April certainly feels counterintuitive and is likely explained in part by the lowering of the energy price cap. I think if you speak to people in the supermarket or at the petrol pump, they’re certainly not feeling it as the Iran conflict continues put pressure on global supply and drive up prices. The impact on mortgage rates and broker workloads is well documented too. That pressure is still likely to be norm moving forward, particularly with no resolution to the conflict in sight. Attention will soon turn to the next base rate decision in a few weeks’ time with opinion still split on the outcome. Could a drop in inflation be enough to stave off any potential hikes for little longer – particularly with the unexpected jump in unemployment announced this week.

“Across employed and self-employed parts of our business, we have seen clients getting on with the task at hand, which in many cases has meant pushing on with their remortgage. We are still seeing purchase activity, although it continues to lean more towards those needing to move, rather than wanting to. In both cases, it is an important reminder of why brokers are so important and the vital role we play in helping borrowers navigate the market. The priority right now is making sure we are being proactive, maintaining that five-star service and covering all our bases to ensure clients are properly supported.”