More homeowners are opting for shorter fixed-rate deals or extending their mortgage terms as they look to manage monthly repayments, according to HSBC UK.

Its Q3 Broker Barometer found 77% of brokers said remortgaging clients were choosing shorter fixes in anticipation that rates could fall.

Meanwhile, 73% said clients were extending their mortgage terms to reduce monthly costs.

HSBC says remortgage applications increased by 31% in the latest quarter, with many borrowers coming to the end of deals fixed in 2021.

More than a third of brokers, at 36%, said clients were cutting household spending to help manage their mortgage costs, while 30% said borrowers were overpaying whenever possible.

The survey of more than 400 brokers also found 84% expect the Bank of England to increase Bank Rate before the end of the year, while just 2% anticipate a reduction.

Almost half of brokers, at 48%, said more first-time buyer clients were relying on financial support from family compared with a year ago.

Just 2% said fewer were doing so.

Asked whether first-time buyers were finding it easier or harder to obtain a mortgage than a year ago, 44% said conditions had become more difficult.

A further 37% said the landscape was similar, while 20% thought it had become easier.

House prices were cited as a challenge for first-time buyers by 56% of brokers, followed by mortgage rates at 54% and raising a deposit at 49%.

Broker job satisfaction also edged higher, with HSBC’s Happiness Index rising from 69 in Q3 2025 to 71 in Q3 2026.

More than half of brokers, at 51%, gave their happiness at being a broker a score of eight or higher out of 10.

HSBC UK head of intermediary mortgages Chris Pearson says: “Our latest broker barometer sheds light on the types of conversations brokers are having with clients remortgaging this year.

“With many borrowers facing repayment increases, brokers are playing a vital role in helping them understand their options and make informed decisions about the best way forward.

“Brokers were most likely to say the solutions relate to the mortgage product itself, whether that be the length of time over which a rate is fixed, or the overall term of the mortgage.”

Pearson says it is encouraging to see improvement in the broker happiness index.

He adds: “To me, that reflects the resilience of the intermediary sector as well as the satisfaction which comes with helping homeowners secure the best deal.”