Securing a mortgage can feel overwhelming, and new research shows just how common those struggles are. According to Shawbrook’s latest Home A-loan report, one in three UK adults has found it challenging to get a mortgage, with 30% trying more than once, and 13% making several attempts before finally being approved.
Confidence is also low among would-be borrowers. Only 20% of people say they feel completely confident they’d be approved for a mortgage. That figure drops to just 10% for those with adverse credit histories. If you’ve had a missed payment, default or CCJ, this might feel very familiar. But while it can be frustrating, the wider economic picture may slowly be shifting in a way that could help homeowners and movers in the months and years ahead.
Economists and financial analysts expect inflation (the increase in price over time) to continue easing into 2026, and this could bring encouraging news for anyone hoping to secure a mortgage, especially those who may have struggled previously. Here’s how a lower-inflation environment could help:
As inflation moves closer to the Bank of England’s long-term targets, pressure on interest rates tends to ease. If rates settle or gradually reduce, monthly mortgage costs could become more manageable for many households.
A more stable economic backdrop can lead to lenders widening their criteria or launching new products, including options tailored for people with credit issues.
Lower interest rates typically mean lower monthly payments. This can improve affordability calculations, helping more borrowers, including those who’ve faced challenges in the past, meet lender requirements.
Even now, plenty of lenders will consider applicants with historic credit problems, and a possible economic improvement could mean more choices ahead.
To understand the choices available to you, why not get in touch with our friendly team of advisors.
To find out more about mortgages, personal insurance, business insurance and protection or to discuss the options available for your circumstances, contact our team of advisors
