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Mortgage Roulette: Is It the Right Time to Fix Your Mortgage?

Leasa Foster Leasa Foster
2 min read

Deciding when or if to fix your mortgage rate feels like a gamble right now. Do you go for black and ride out the uncertain wave or opt for red and fix your mortgage now? The mortgage market has been in a highly turbulent state over the last 12 months at the same time as all households’ bills continue to rise. For most, the largest bill each month is their mortgage payment so many are facing the decision of what to do to keep this payment as low as possible.

How to Future Proof Your Mortgage

All mortgage products are different, with some tracking the current Base Rate, some with a discount off the Base Rate and some with a fixed rate for a certain period of time. The gamble then is what do you opt for now for your first mortgage or what to do next if your mortgage product is coming to an end?

There is still uncertainty over the interest rates set by the Bank of England. However, interest rates on fixed mortgage deals are edging down with some 5 and 10 year fixed below 5%. Further cuts are possible in the short term after the base rate has held at 5.25% this month. Mortgage Lenders have been steadily reducing rates since July 2023 and trajectory of mortgage rates have begun to slow.  

Mortgage Advice from a Conveyancer's Perspective

Having worked as a conveyancer for 20+ years, I've seen the highs, lows and middles of the property market. My advice is be organised in advance and also speak to a Mortgage Broker or your current Lender to see what current products are available. 

Once you are armed with all the information you need, you can then make your decision.

Client feedback

Great to deal with, quick replies to questions, would definitely recommend.
Megan
This team is really well organised, professional and thorough.My family have now used the Conveyancing service, both as Buyer and Seller, numerous times and have been extremely impressed and satisfied. They use simple and effective tools for great communication so you know the status at anytime and don't have to chase to find out. I would recommend Winston Solicitors without hesitation.
Marnie
I have just purchased my first property and used Winston Solicitors after being recommended by my Mortgage Advisor. I dealt with Samantha and Michelle who were amazing throughout the whole journey. They kept me informed of all steps throughout and responded to any queries in a timely manner. They also had an app where you could see progress and what the next steps would be which helped a lot for someone who didn’t know what to do. From putting my offer in to completed took around 8 weeks (no chain). Would highly recommend and I will definitely use them again in the future.
Mattheuw
Winston Solicitors were absolutely amazing! This was our second time moving house with Leasa and Julie and we genuinely cannot imagine the moving process without them! They were so friendly, kept us up to date throughout the whole process (without any legal jargon!) and kept communication open up and down the chain to ensure we had a quick and easy move (with 5 houses in the chain this was no mean feat!) Leasa and Julie went above and beyond, were always accessible via email and telephone, and there was never any need to “chase” because they were both so on top of everything! Words can’t express our gratitude for all the support they gave us in helping us move to our dream home. Thank you both so much!
Sophie
I'm really pleased with the work done so far,I'm proud and happy to use the Winston solicitors
Omonigho
Winston Solicitors have acted for me on many occasions for the conveyancing of property purchases and remortgages. I can't recommend Leasa Foster and her team enough. They make the transactions run very smoothly. They are clear with the information they provide to me, they are clear with the information they expect from me, and they are very thorough.
Sarah
Sidra is an exceptional solicitor who truly goes above and beyond! From the moment I instructed her, she was proactive, responsive, and incredibly knowledgeable. Her expertise and dedication ensured that my house purchase was handled with utmost care and efficiency. Sidra's professionalism, attention to detail, and friendly demeanor made a potentially stressful process remarkably smooth. I highly recommend Sidra to anyone in need of a reliable and skilled solicitor. Five stars isn't enough - she's truly outstanding!
Qasim
Your services is simply the best. I will always recommend you any day to my friends.
Omonigho
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