How the mortgage market is shaping hiring in 2026

I'm Hugh van Grutten, Head of Mortgages at deverellsmith. On this episode of devcast, my colleague Hannah Taylor put me on the spot about a market that's had one of the roughest rides in property recently, and what that's actually doing to hiring. 

How has the mortgage market shifted over the past year? 

Looking beyond the last year, the industry has taken a hit since the mini-budget, and there hasn't been much true stability since. Rates spiked and have been coming back down since, and going into 2026 most clients were feeling genuinely optimistic. Then geopolitics and the conflict in Iran did untold damage to the industry. At one point, around day 31 of the conflict, 20% of all mortgage products were withdrawn from the market in one go. 

It's a strange place to navigate right now. But whatever the wider market is doing, people always end up moving, upsizing, downsizing, relocating, so there are always deals to be done. Advisors are simply having to work a lot harder to get them across the line, and we're seeing more remortgages than purchases at the moment. 

What does that mean for homeowners refinancing in 2026? 

Around 1.8 million UK homeowners have mortgages coming up for renewal in 2026. Many locked in deals below 2.5%, and they're likely to be looking at something closer to double that now. This tracks with UK Finance's latest mortgage lending forecast, which confirms 1.8 million fixed-rate mortgages are due to end in 2026 and forecasts a 10% rise in external remortgaging as a result. 

How is all this feeding into hiring? 

It really varies from client to client. Some have big accounts and introducers that keep them hiring regardless of the wider noise, but across the industry as a whole, clients have become more cautious and selectiveabout who they take on. That said, people still want to work in mortgages, everyone's trying to stay as optimistic as possible, and it remains a fantastic industry to be in once the market's playing ball again. 

What makes a mortgage role compelling enough to make someone move? 

Businesses need to tell a real story about who they are, where they are now, and where they're heading, and what that actually means for someone joining. It's very easy in this industry to stay surface-level and never get into the depth of what a business actually offers, and that's exactly how companies end up blending into the same pool as everyone else and losing out on the right people. 

Commission structures matter here too, particularly on the self-employed side, where I'm increasingly seeing businesses put together genuinely exciting, competitive structures. If two similar clients are fighting over the same candidate, especially one with their own client book, that candidate is going to the business with the better commission offer almost every time. 

Is it better to hire self-employed or employed mortgage advisors? 

There's a real split across the industry. Right now, businesses are more willing to take on a self-employed hire because there's less risk and less cost exposure for the business owner. If someone's already self-employed, moving to another self-employed role tends to be an easy decision, usually driven by better commission or a stronger lead source. 

Where I see real hesitation is employed advisors considering a move into a self-employed role. It takes three to four months to build up a pipeline before any income starts coming in, and that's a genuine risk, especially with cost-of-living pressures front of mind. But the upside and the flexibility are far greater, and on the whole, the brokers earning the most in this industry are self-employed. It takes a certain personality type to make that leap. 

What are the best firms doing to attract the strongest candidates? 

One of the biggest factors, and one that's a lot easier said than done to fix, is lead source. I'm currently working with one client who has a huge resource behind them and generates around 500 leads a week. That's put them in a lucky position where I'm helping them grow headcount by roughly 30 to 35 people over the next four months alone. A strong lead source opens the door to a far wider pool of candidates. 

Beyond that, most businesses are looking for people with four or five years' experience who already have their own client book, and who can top that up with a few extra deals along the way. 

What's the outlook for mortgage recruitment over the next 12 months? 

A lot is riding on what happens with Iran, and even if that stopped tomorrow, it would still take time for inflation and interest rates to properly come down. All being well, I'd hope the market is in a noticeably better position by the end of next year, but I wouldn't want to be quoted on that. 

On hiring specifically, I expect it to look much like it does now, cautiously cautious. Clients are likely to stay selective about who they bring into their business, and candidates will need to tick most of the boxes before a client is willing to take a chance on them. 

Frequently Asked Questions 

Why are 1.8 million UK homeowners facing higher mortgage costs in 2026? 

Around 1.8 million fixed-rate mortgage deals are due to end in 2026, many of them taken out at rates below 2.5%. With rates now roughly double that in many cases, these homeowners face a significant increase in monthly payments when they remortgage. 

Is it better to hire self-employed or employed mortgage advisors? 

It depends on risk appetite. Self-employed advisors typically earn more overall and give the business less cost exposure, but moving into a self-employed role from an employed one carries real short-term financial risk, since it can take three to four months to build a pipeline before earning any income. 

What's the biggest factor in attracting strong mortgage advisor candidates? 

Lead source is one of the most underrated factors. Firms that can offer advisors a genuine, consistent flow of leads have a real edge in attracting and retaining talent, alongside competitive commission structures for self-employed roles. 

Will the mortgage market improve in 2026? 

It's heavily dependent on wider geopolitical events and how quickly inflation and interest rates settle. There's cautious hope the market will be in a better position by the end of the year, but hiring is likely to remain selective in the meantime.