Mortgage Market Update Summer 2026

8 July, 2026

Rates are beginning to creep down 

Over the past few weeks, we've started to see mortgage rates edging down, with several lenders making small reductions across selected fixed-rate products.

While these cuts aren't dramatic, they're a positive sign that competition between lenders is increasing as they look to attract new business. If this trend continues, borrowers could benefit from even more competitive deals in the weeks ahead.

Smaller deposit mortgages are also making a comeback

Another encouraging development is the return of more low-deposit mortgage products.

One example is Halifax's new mortgage offering for buyers with a £5,000 deposit, designed to help more people take their first step onto the property ladder without needing to save a substantial deposit.

Alongside this, we're seeing an increasing number of lenders strengthening their 95% loan-to-value (LTV) mortgage ranges, giving first-time buyers greater choice and improving access to homeownership.

The mortgage market is constantly evolving, and with rates easing and low-deposit products becoming more widely available, there may be opportunities worth exploring whether you're purchasing your first home, moving house, or planning to remortgage.

As always, please get in touch with your local Choice Mortgage Solutions advisor, in your nearest branch of Pearsons, for your up-to-date mortgage options.

Dean Hurst

Mortgage and Protection Consultant