February 2026 Mortgage Update

What Buyers Need to Know Before the Spring Market

As we move into February 2026, the mortgage market is already shifting — and these changes will directly impact buyers planning a move this year. Lender competition, revised affordability criteria, and new product launches are shaping borrowing options ahead of the busy spring property market.

At James Anderson, we’re seeing increased buyer preparation this month, with many clients securing finance early to strengthen their position.

 

Lender Competition Increases Ahead of Spring

February traditionally marks the start of lenders launching competitive products ahead of peak spring activity (March–May). Banks and building societies are actively adjusting rates and criteria to attract new business.

For buyers, this creates opportunity.

Even a small rate difference of 0.3–0.5% between lenders can translate into significant savings over the life of a mortgage. February is therefore an ideal time to compare options thoroughly before committing.

Through our trusted mortgage partners at IMCFS, our clients benefit from whole-of-market access and detailed product comparisons — ensuring no opportunity is overlooked.

 

Lending Criteria Are Evolving

Mortgage lenders are continuing to refine affordability assessments in response to market conditions. Recent updates include:

• Adjustments to income multiples for strong credit profiles

• Improved flexibility for self-employed applicants

• Changes in how bonus or secondary income is assessed

• Revised stress testing calculations

If you’ve previously struggled with borrowing capacity, February’s updated criteria may work more favourably with the right lender.

 

Fixed-Rate Product Availability Expands

We are also seeing increased availability of longer-term fixed-rate mortgages, including competitive five and ten-year options.

For buyers prioritising payment certainty, locking in a longer-term fixed rate can offer financial stability — particularly if you plan to hold the property for several years.

IMCFS can model repayment scenarios, helping buyers understand whether the premium on longer-term fixes justifies the additional security.

 

Continued Support for First-Time Buyers

First-time buyer products remain a key focus for lenders in early 2026. Many 5% deposit mortgages are still available, alongside:

• Cashback incentives

• Free valuations

• Reduced product fees

Shared ownership schemes are also seeing renewed attention as developers prepare spring releases.

 

Why February Is a Strategic Time to Secure a Rate

Rates secured now are typically valid for three to six months, meaning buyers can protect themselves from potential increases while continuing their property search.

If you already have an accepted offer, securing a rate promptly provides cost certainty through to completion.

For existing homeowners with fixed rates expiring later in 2026, February is also an excellent time to review remortgage options. Many lenders allow rate reservations up to six months in advance.

 

Planning Your 2026 Move

Whether you are:

• A first-time buyer

• Upsizing or downsizing

• Remortgaging

• Exploring shared ownership

The key to success in 2026 is preparation.

At James Anderson Estate Agents, we help clients understand local property values, competition levels, and negotiation strategies. Alongside this, our trusted advisors at IMCFS provide tailored mortgage guidance, ensuring your financing aligns with your property goals.

A coordinated approach between estate agent and mortgage advisor creates a stronger buying position — particularly as we move into the competitive spring market.

 

If you are planning a move in 2026, speak to us early. We can connect you with IMCFS to secure the right mortgage solution while helping you find the right property with confidence.

OR connect directly with IMCFS here: