As the Bank of England held rates at 3.75% amid concerns that the Iran conflict could boost inflation, new research from LRG shows that more than half of property buyers surveyed don’t have a mortgage – and never intended to.

While mortgage rates often dominate headlines when the BOE meets, the LRG survey suggests a significant portion of buyers are operating outside the traditional borrowing market.

LRG’s Spring 2026 Sales Report, surveying 307 buyers and sellers across England and Wales, found that 52% of active buyers are purchasing with cash.

These buyers do not need a mortgage, and for most, the Bank of England faster than house prices for four consecutive years, with average earnings up 4.7% year-on-year, according to Rightmove.

Nearly six in 10 buyers surveyed expect to complete a move within six months, and almost a third within three.

Kevin Shaw, national sales managing director at LRG, said: “Our research shows a market that is largely indifferent to rate movements; the buyers we’re working with have made up their minds, and they’re ready to move.

“We’re not seeing the Middle East conflict and its potential to delay interest rate reductions translating into any meaningful slowdown in agreed sales or new listings. For all the noise around inflation and geopolitics, plenty of people still want to move and, crucially, are willing to get deals done.

“The property market is considerably less rattled than some of the commentary around it. The BOE may have delayed its long-term objective of reducing interest rates, but our prospective buyers and sellers are not delaying their willingness to transact.”