Target Group comments on HMRC property transactions

30 September 2026

Melanie Spencer, growth director at Target Group, said:

“While not unexpected, it is disappointing to see transactions dip once again. Mortgage rates have risen sharply since the start of the Iran conflict, as lenders react to volatility in swap rates and the wider economy. With completions data always taking a couple of months to catch up, we are seeing a market that is really feeling those higher borrowing costs in a sustained way.

“The big question is what happens next. Mortgage pricing remains highly volatile and with the Bank of England looking set to break from its holding pattern and inflation still above target, there looks to be little relief on the horizon. Add in speculation around the Budget – particularly on property taxes, stamp duty and a new equity loan scheme and buyers are caught between rushing to complete or lock in a deal or sitting on their hands until they know what they’re dealing with.

“With borrowing costs, competition and demand all remaining unpredictable, lenders who are agile enough to respond to changes in the market at short notice will be in the best position to keep pace.”