The Intermediary –- June 2026 - Flipbook - Page 10
RESIDENTIAL
Opinion
Flat doesn’t
mean failing
T
he first few months of
this year have produced
no shortage of housing
market headlines,
swinging wildly
between optimism and
panic depending on what set of figures
happened to land that week.
One minute the market is
supposedly roaring back to life, the
next it is apparently grinding to a
halt under the weight of affordability
pressures, swap rate volatility and
cautious consumer sentiment. The
reality, as ever, is far more measured.
If the early part of the year taught
us anything, it is that brokers, lenders
and conveyancers alike must avoid
becoming too reactive to short-term
fluctuations. The market rarely moves
in a straight line, particularly during
periods where consumers, lenders and
businesses are all trying to interpret
the same economic signals at the
same time.
There is no doubt March brought
a surge in activity across many
parts of the market as advisers
worked to complete client cases
ahead of rate changes and product
pulls. While many firms might
then have expected a much sharper
slowdown through April and into
May as activity appeared to have been
brought forward, what has followed
– certainly from our perspective – has
been far more stable than anticipated.
Yes, activity has soened slightly in
some areas, but that is not the same
the market falling away. Transactions
are still happening, advisers are still
writing business, and consumers
are still making decisions based
on the life events that underpin
the market, regardless of wider
economic conditions.
Stability more than spikes
One of the biggest mistakes businesses
can make during periods like this
is becoming too focused on isolated
peaks and troughs, rather than the
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The Intermediary | June 2026
broader shape of the market. March
was very busy, for reasons beyond
our control, but since then, activity
levels have generally remained
steady, particularly when you account
for seasonal factors, such as Easter
disruption, fewer working days and
ongoing uncertainty around rates.
That maers, because stable
markets are oen healthier markets.
The industry has become so
accustomed to sharp swings in activity
over recent years, whether during
the pandemic, mini-Budget fallout
or the rapid rate rises that followed,
that a period of relative stability can
sometimes be mistaken for weakness.
In reality, what appears to be a
flaer market oen gives advisers
the opportunity to refocus on service
quality, retention and operational
efficiency, rather than simply trying
to keep pace with spikes in demand.
Flaer markets tend to expose the
businesses that rely too heavily on
transactional momentum alone.
Communication is key
When consumers feel uncertain,
whether about interest rates,
affordability or the wider economy,
they place greater value on firms
that provide clarity, consistency and
reassurance throughout the process.
That does not just apply to the
mortgage recommendation itself, but
to every stage of the transaction.
It is why brokers are paying
closer aention to the quality of
the conveyancing journey, the
responsiveness of service providers
and the overall experience from
instruction to completion.
In many ways, markets like this
reward advisers who stay closest to the
client relationship, because consumers
are not simply looking for the cheapest
deal or the fastest quote. They want
confidence that somebody is actively
managing the process and stepping
in quickly when issues arise. That is
particularly important in a market
HARPAL SINGH
is CEO at conveybuddy
where transactions can still become
unpredictable at short notice. Lender
pricing continues to move rapidly,
operational pressures remain across
parts of the property sector, and many
consumers are still highly sensitive to
unexpected costs or delays.
Autumn over Summer
While Summer activity will naturally
remain important, many are already
looking ahead to Autumn as the more
significant test of market confidence.
That is partly because Summer
markets are traditionally uneven due
to holidays and seasonal slowdowns,
but also because lenders will be paying
close aention to pipeline volumes
heading into the final quarter.
If activity levels remain broadly
stable into early Autumn, that would
provide a far stronger signal about
underlying market resilience than any
individual monthly spike or slowdown
earlier in the year.
There are still challenges ahead.
Affordability remains stretched for
many borrowers, lenders continue to
operate within a fast-moving pricing
environment, and nobody should
expect a completely smooth second
half of the year. However, there is also
lile evidence to suggest the market
is facing the kind of sharp drop some
predicted post-March.
Instead, what we may be seeing
is a market gradually seling back
into more sustainable paerns aer
a period of volatility. For advisers,
that means the months ahead are
unlikely to reward those waiting for a
sudden surge in activity to carry them
forward. They are far more likely to
reward businesses that communicate
well, stay close to clients and continue
building trust throughout the entire
transaction process. ●
