Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.
1.8 million fixed rate mortgages set to expire in 2026 as poll probes client concerns
A new poll by Mortgage Solutions is asking what the biggest concern is for clients coming off fixed rate mortgages. The question comes as UK Finance reports that 1.8 million fixed rate mortgages are due to expire in 2026.
Over a million ultra-low fixed rate mortgages are due to expire in 2026, according to the report, meaning a large cohort of borrowers will be moving off rates secured during the ultra-low interest rate period.
Rate uncertainty and short-term fixes
The report notes that brokers have previously said some borrowers were committing to short-term solutions to overcome interest rate uncertainty, suggesting caution in the market, with borrowers reluctant to lock into longer-term products while the direction of rates remained unclear.
Borrowers have also been urged to secure fixed rates sooner rather than later, as rates are expected to generally move upwards. That guidance adds urgency for anyone approaching the end of a fixed deal who has not yet arranged their next mortgage.
What this means for agents and clerks
While the poll is aimed primarily at the mortgage intermediary market, the expiry of 1.8 million fixed rate deals has knock-on implications across the property sector. Letting agents and inventory clerks should be aware that a significant number of borrowers, including landlord clients with portfolio mortgages, will be repricing their borrowing during 2026.
Landlords facing higher mortgage costs may review their portfolios, which can influence decisions to remortgage, refinance, sell, or adjust tenancy arrangements. Agents whose landlord clients are among those coming off ultra-low fixed rates may therefore see increased activity as those clients reassess their positions over the course of the year.
Mortgage Solutions is running the poll to gauge what advisers see as the biggest concern for clients coming off fixed rates, with the full question posed to its readership of mortgage and protection professionals.
Source: Mortgage Solutions