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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

Samantha was great. Very efficient. Always able to help. Very straightforward transaction. I would recommend.
Mr & M
Absolutely amazing. Was my first time buying a house and I had no idea what I was doing. Samantha was the best solicitor I swear she never leaves her desk, each email I sent was responded to within 5-10minutes. She made a very stressful process a lot easier and can't thank her enough. When she had days off work the rest of the team there took on her work just as well, super easy to contact them all and they explained everything super clearly for me to understand. Anytime I need a solicitor from now on I will be using Winstons.
Mr Harwood
I've used a number of conveyoncers over the years but Leasa was by far the best. Attentive when required and able to mediate issues to ensure a smooth purchase. I've found with previous property purchases conveyancing correspondence can sometimes go unasnwered, however Leasa was prompt and proactive with any queries made both by telephone and email. She made the whole process extremely easy so I'd be happy to recommend Winstons as a professional firm and look forward to doing future business with them.
Stephanie
Leasa came recommended by a friend and we are extremely pleased with the service she and Winston Solicitors provided. We found Leasa to be very quick and she provided regular updates throughout, making the process particularly smooth. We will definitely appoint Leasa again when we next move.
Tom
Excellent communication throughout the whole process.
David
I appointed Winston’s as conveyancers for both the sale of my existing home, and purchase of my next one. Sidraa and Tom were fantastic, working with pace and always responsive by email and/or when I called. It was far more seamless than I anticipated and I was incredibly impressed with their efficiency and communication. Thank you!
Joseph
Excellent professional service would highly recommend
Anonymous
Excellent service,highly professional and support me with purchasing the house.
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