"In mortgages, the return of greater market stability has allowed advisers to concentrate on supporting the ongoing refinancing wave."
- Jennifer Rafferty - Iress
The latest quarterly sourcing data from Iress has found a calmer mortgage market in Q2 2026 after a steady wave of refinancing activity.
Iress’ Q2 Sourcing Data Insights report revealed that, following months of rapid repricing and product withdrawals, the mortgage market showed signs of stabilisation.
The report notes that the average shelf life of a mortgage product almost doubled from eight days in early April to 15 days by June, giving advisers greater certainty as they navigated the ongoing refinancing wave.
In addition, residential product choice came close to record highs during June as lenders competed for borrowers coming off fixed-rate deals, and two-year fixed products continued to gain popularity as rates remained lower than equivalent five-year fixes.
At the same time, protection applications have remained resilient, supported by a continued focus on higher-quality outcomes from advisers. Q2 also saw annuity demand continue to reach record levels as a result of favourable rates.
Jennifer Rafferty, managing director for sourcing at Iress, said: "What stands out from this quarter isn't necessarily the volume of activity, but the quality of it. Across mortgages, protection and retirement, we are seeing advisers have more focused conversations with clients and helping them make decisions with greater confidence.
"In mortgages, the return of greater market stability has allowed advisers to concentrate on supporting the ongoing refinancing wave. In protection, we continue to see strong application levels, with data suggesting advisers are spending more time on committed client outcomes rather than broad product searches. Meanwhile, continued demand for annuities reflects advisers responding to favourable market conditions and helping clients lock in certainty where it matters most.
"Taken together, the data suggests advice firms are becoming increasingly efficient, using technology and market insight to spend more time with clients and less time on administration. As the market continues to evolve, that ability to combine efficiency with high-quality advice will become an increasingly important differentiator."
