Just Mortgages comments on BoE Money and Credit

29 October 2026

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

“A slowdown in approvals in September really typifies the challenges facing the market, as buyers, sellers and lenders respond to what the Chancellor described yesterday as ‘global economic storms’. Rate volatility remained a key characteristic of the market in September. While we managed to see somewhat of a bounce in buyer registrations and valuation requests in September and into October, we know the market is still mainly made up of those needing to make moves, rather than necessarily wanting to. I think the jump in remortgage activity certainly helps demonstrate this.

“While I’m sure there has been an element of wait and see with the Autumn Budget, the hope is that now it is out the way, we see the release of some pent-up demand. I’m sure the news on the Your First Home scheme will undoubtedly help generate interest as that schemes gets set to launch. Even if the scheme helps enable brokers to engage positively with prospective clients or encourage them to open the door and seek advice, I’d count that as a real win. While the scheme has its sceptics, there’s a real opportunity to view it as the gateway to a broader conversation around the full range of options that are available right now to make homeownership a reality.

“As we head towards the end of the year, brokers will need stay proactive and remain visible, using all the tools at their disposal to give clients confidence and help them navigate this changing market.”