Just Mortgages comments on BoE Money and Credit

29 September 2026

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

“Given it is prime holiday season, we shouldn’t be too surprised to see mortgage approvals dip in August – especially when you also consider the headwinds the market has been battling. While we did see some positive movements from lenders in August, rate volatility was rife as swap rates responded to the uncertainty caused by the ongoing conflict in the Middle East. Rates have only seemed to move in one direction since then, but despite this, we’ve been encouraged by a modest uplift in buyer registrations and valuation requests in September. It’s a good sign that there is still people out there looking to make moves and to buy.

“There’s no question that there’s some element of wait and see right now ahead of the Budget. The hope is that this gives way to some pent-up demand – particularly as we find out more about the new Your First Home scheme. Like we’ve seen with other headline products that have come to the market recently, it is likely to generate interest and enquiries, creating fresh opportunities for advisers to discuss the full range of options available to first-time buyers. As we head into the final quarter of the year, advisers need to be proactive and share the opportunities that still exist in the current market.”