Examining what mortgage market resilience really means in practice – Morris

But given the level of disruption the sector’s had to deal with over recent years, it’s easy to understand why it’s such a hot topic.

We’ve seen sharp changes in pricing, continued affordability pressure, shifting rate expectations and a great deal of uncertainty for brokers and borrowers alike. None of that has been easy to navigate.

However, despite all of these challenges, landlords are proving themselves to be a tough bunch. According to data in Pegasus’ latest Landlord Trends report, landlord confidence rose across all regions in Q1 of 2026, while the proportion of landlords saying they intend to remain in the sector rose to 63% in the same period – up from 58% in the last quarter of 2025. Furthermore, 84% of landlords report their lettings activity is profitable, with average rental yields edging up to 6.5%.

For me, though, resilience is not just about the market bouncing back once conditions improve. It’s about how lenders, brokers and borrowers manage while conditions are still difficult.

Sponsored

Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let

Sponsored by Aldermore

A recovery made in difficult conditions

That’s why Jonathan Stinton’s first keynote speech as the Intermediary Mortgage Lenders Association (IMLA) chair felt particularly relevant. He gave the UK mortgage market a clear vote of confidence, pointing to its performance since the post-Truss period as evidence of its underlying strength.

As he put it: “These are not just figures; they represent families moving, landlords adjusting, buyers returning with confidence and advisers supporting them through uncertainty.”

I think that’s an important point, because the recovery has not happened in easy circumstances. Borrowers are still dealing with higher costs, affordability remains a challenge for many, and expectations around interest rates have continued to move.

Stinton also made the points that demand has rebalanced, credit quality remains resilient and the fundamentals of homeownership in the UK remain strong, and I agree with him. There’s still a deep-rooted desire among people to own their home or invest in property for the long term, even when the market makes that more difficult.

For brokers, that means more complex conversations and, in many cases, clients who need more reassurance before making a decision.

Resilience in practice

So, while the lending figures matter, they should only form a part of the lending market’s thinking. What matters just as much as headline activity numbers is how the market behaves when confidence is fragile.

For lenders, this is where all the talk of resilience becomes practical. Brokers are not looking for vague reassurances when rates are moving quickly or economic conditions are impacting activity. They need straight answers on whether a case fits, where the potential issues are and how quickly something can realistically progress.

Sometimes that means finding a way forward, and sometimes it means being upfront early on that something is unlikely to work. Both are valuable when brokers are trying to manage client expectations, particularly in a turbulent economic period.

In those situations, resilience is not about saying yes to everything. Instead, it’s about being transparent with what can be offered to borrowers and communicating clearly about what their options are.

The human side of resilience

This is also where the relationship between lenders and brokers really matters. Technology, systems and product design all have an important role to play, but there’s still a lot to be said for picking up the phone, talking through a case and understanding where the real challenges lie.

From what I’m seeing and hearing, that human element remains central to how the market gets through uncertain periods. Brokers want partners who understand the pressures they’re under and who can help them navigate the grey areas, not just point them back to a criteria sheet.

For me, this is where resilience really shows itself. Not in big statements about the strength of the market, but in the day-to-day decisions that help brokers keep clients moving in the right direction.

The market has shown many times that it can recover from disruption, and that should give us confidence. But how we behave before conditions have fully settled is arguably more important.

That is what resilience should mean in practice: clear communication, honest conversations and a market that keeps working for brokers and borrowers, even when the outlook is uncertain.