Just Mortgages comments on BoE MPC decision

18 June 2026

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

“I think even with the surprise news on inflation yesterday, this was always the most likely outcome. We shouldn’t be disappointed though, particularly with more hawkish members of the MPC calling for hikes. That threat does appear to be dissipating, but it’s certainly not gone for good. Even with the signing of an initial peace deal that intends to end the war, the impact of the Middle East conflict is still likely to feed through in the coming months – members will be conscious of this. I’d argue though that we also need to consider economic growth which wouldn’t be helped by any future increases in rates.

“Even with this backdrop, we have been seeing positive movements in the mortgage market and some increasing competition. The overriding message that brokers need to be sharing with clients is that there is still plenty of money out there and lenders that are willing to lend. Rate changes are coming with tweaks to products and criteria as lenders hit the halfway point of the year and look ahead to their end of year targets. Depending on where they are, lenders are having to be a bit more brave and bold in their appetite to risk and in their pricing to make sure they end the year where they want to be. This is good news for potential borrowers and all the more reason why they should rely on quality advice.”