2026 began with confidence across the mortgage sector. If you total up our lender partners’ market share ambitions, the figure will comfortably outstrip UK Finance’s lending estimates for the year. This is an early indicator of a buoyant market outlook.
Of course, the market rarely moves in a straight line, and global turbulence has quickly fed through into mortgage pricing. Over the past couple of weeks, lenders have been withdrawing products and repricing at pace to protect margins and maintain service levels. The alternative can be an unmanageable surge in applications, or in some cases, writing business at a loss.
We understand the commercial reality, but abrupt changes are far from ideal for advisers and their clients. We’ll continue to press for appropriate notice wherever possible, and we’ll continue to recognise the lenders who keep advisers front and centre when making these decisions.
Crucially, we’re not seeing signs of liquidity concerns. Instead, the recent repricing reflects a sudden shift in the cost of funds, and lenders responding quickly to it. The market remains resilient, and this volatility is better viewed as a demonstration of agility than a cause for alarm.
In the middle of rapid repricing, our mortgage research platform Ignite has come into its own. With direct lender access to update or remove products instantly, and our new product API link with Lloyds Banking Group, we are streamlining product onboarding and improving the broker experience. Initiatives like this can transform how brokers access information, reduce friction and create a more efficient, connected mortgage journey.
Last week saw 18,060 product changes, showing just how fast the mortgage market is moving. The unchanged Bank of England base rate has offered some welcome stability, but advisers and clients must stay alert as products shift quickly.
Despite the noise, 2026 is shaping up to be an exciting year for innovation. We’re working with lenders on ways to make the remortgage journey as appealing and seamless for brokers and customers as product transfers, with further improvements and creativity expected in the months ahead.
Most importantly, progress must not come at the expense of great advice. Our research shows that, despite the rapid rise of automation and AI, borrowers still place enormous value on expert advice from a person during the mortgage process. There is no doubt that digital tools will become more embedded in the advice process, but this should be about complementing advisers, not replacing them.
Finally, thank you to everyone supporting customers across the UK. Rapid rate changes create real pressure for advisers and clients alike, but by working together we can navigate the volatility and keep delivering the best outcomes.
Kevin Roberts is director, L&G Mortgage Services
