The start of a new year is the perfect moment to take stock of your goals—and your finances. Whether you’re planning to buy your first home, move to a bigger space, or simply review your current mortgage, 2026 could be the year you make it happen.
Why now?
December’s Bank of England base rate cut to 3.75% marks another step toward easing borrowing costs after a period of elevated rates. In fact, mortgage rates have fallen to their lowest level in three years. While a base rate change doesn’t automatically reduce your mortgage payments, it influences lenders’ cost of funds. That means we’re already seeing competitive fixed rate deals emerge.
Are you buying a home?
If you’re considering a move, now is an excellent time to explore your options. Here’s what’s changed:
• Your deposit goes further
Recently, many lenders have reduced the difference in mortgage rates between borrowers with large deposits and those with smaller deposits. This means the advantage of putting down a much bigger deposit isn’t as significant as it used to be and even without a big savings pot, you should still have access to competitive rates.
• You could borrow more
Many lenders now offer up to 5.5x your income, potentially giving you greater purchasing power.
• No deposit? No problem
A growing number of lenders are introducing 0% deposit mortgages for eligible borrowers, giving you the chance to move from renting to owning. If you’re a first-time buyer, this could be the breakthrough you’ve been waiting for.
Take a look at the best moving home deals currently available.
Is your current mortgage deal about to expire?
If your mortgage deal ends in the next six months, or has already ended, now is the time to start planning and looking at your remortgage options. Acting early gives you the chance to lock in one of today’s competitive rates and avoid slipping onto your lender’s standard variable rate—which is often much higher.
Thinking about borrowing more? Whether you want to fund home improvements, consolidate other debts, or simply increase your budget for a move, reviewing your options now could save you money. With lenders offering higher income multiples and fairer pricing across deposits, you might have more flexibility than you think.
Have your circumstances changed?
Life doesn’t stand still. Maybe you’ve had a pay rise, changed your job, started a family, or simply need more space. Reviewing your mortgage now could help you take advantage of better rates and improved affordability criteria. It’s also the ideal time to review your protection to ensure your plans stay on track. Try our Instant Quote Calculator to see how affordable life insurance can be. Answer a few quick questions and you’ll get an estimate of your cover needs, price, and personal risks—based on industry data. This doesn’t replace expert advice. The best way to understand what cover you need is to speak to one of our Protection Advisers.
Ready to make 2026 your year?
Speak to one of our expert advisers today by clicking here or calling 08000 38 37 36 to find out how these changes could work for you.
This is for information only. Products and rates vary depending on your circumstances, lender criteria and products available at the time.
