23 Jun 2026
Starmer’s resignation: what does it mean for mortgages?
Monday 22nd June saw Keir Starmer resign as Prime Minister and Labour leader. The resignation does not directly impact mortgage rates, as changes were taking place before this announcement. However, it could influence mortgage rates indirectly through financial markets and future government policies.
The mortgage market has reacted relatively calmly to Starmer’s resignation as it was widely anticipated. Gilt yields represent borrowing costs of the government and heavily influence fixed-rate mortgage pricing, but have not drastically changed.
Mortgages
A change of Prime Minister doesn’t automatically affect the future of the Bank of England base rates, gilt yields, and lender competition and funding costs. However, it could have an impact on:
- Markets becoming anxious about government spending – if gilt yields increase, this could pressurise fixed mortgage rates to rise
- If there is political uncertainty – lenders may feel a little more wary and change their prices more frequently
If the transition in leadership is smooth, we may see very little to no impact.
Borrowers
There is no need to panic or rush into anything because of the resignation. If you were already looking at remortgaging, or buying your first home, it’s advisable to speak to a mortgage broker who can secure you a rate that they can review regularly to ensure you are getting the best option available to you.
To summarise, the Prime Minister’s resignation is unlikely to change anything overnight, but policies set by the next government could influence rates in the future. Mortgage rates are determined by the market, which is driven by:
- The Bank of England
- Swap rates
- Individual lenders
- Economic indicators
- Political and market stability
For free mortgage advice, speak to the team at Mortgage Required at 01628 507477.
Recent posts
As part of the Renters Rights Act 2025, a mandatory registration system for private landlords in England will be introduced in 2027.
The Private Rented Sector (PRS) Database will hold information on private landlords renting properties in England under assured or regulated tenancies.
Best UK Mortgage Rates this Week
6 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Your First Home Scheme for First-Time Buyers
12 days ago
Saturday 26th September, Andy Burnham announced a new equity loan scheme called “Your First Home”. The scheme, which will be confirmed at next month’s budget, is aimed at first-time buyers looking to purchase a new-build property from a developer signed up to the scheme.
Autumn Budget 2026: Key Points
14 days ago
On Wednesday 28th October, Chancellor John Healey delivered the 2026 Autumn Budget.
We have summarised the key points relating to property and tax.
In September 2026, they extended this to a wider range for those moving home. Eligible homeowners looking to purchase their next property can access the delayed start mortgage, which could help with the overlap between properties, solicitor, removal, and repair costs.
What is a Mortgage Stress Test?
22 days ago
A mortgage ‘stress test’ revolves around predicting future ‘affordability’. It is seen by many borrowers as just another hurdle to overcome, but it’s important to understand why it was introduced and who it is meant to protect.
There are several scenarios for a landlord where standard buy-to-let lending isn’t enough for their investment. For more complex properties, ownership structures, or borrowing circumstances, a specialist buy-to-let mortgage may provide options that are not available through mainstream lenders.
Leaseholders to be given extra protection
30 Sep 2026
Housing Secretary Angela Rayner has announced a new measure to protect leaseholders in England and Wales from high fees and poorly regulated property management companies.
More information
Trusted by
