Roullete wheel
Advice

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

Leasa Foster Leasa Foster
2 min read
This blog is more than 2 years old

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

This is the third time I’ve used Winston Solicitors and Sidraa has been fantastic in each. Highly proactive and responsive, clear communication and moves things along quickly. Will always be my first choice in future purchases.
D. Paige, Staffordshire
Winston Solicitors (in particular, Samantha Robertson-Strong and Aishah Zahir) were absolutely brilliant. Our case was handled perfectly from start-to-finish. We always felt we were in good hands, all of our queries were responded to quickly, and each step of the process was very well explained. We would 100% recommend this firm to everyone. Thank you so much!
T. Kirkbride, North Yorkshire
Brilliant support from both Sidraa and Paulo. I would definitely use Winston Solicitors again in the future!
N. Patel, Leeds
We just want to take this time to say a massive thank you to all at Winston Solicitors. You took the pressure and stress off us throughout the process. We were always kept in the loop and knew exactly what stage we were at with everything. Each and every person we have dealt with from dropping documents off, telephone calls and emails have been amazing. Thanks again team!
R Burrows, Bradford
We dealt with Samantha for purchasing our first home, and we cannot say enough nice things about her and her team. Samantha was incredibly efficient, patient and kind, and it was a pleasure to deal with her throughout. We will absolutely be using Winston solicitors again for any future needs.
J Yong, West Yorkshire
I recently used Winston Solicitors for my property purchase, and I couldn't be happier with the service I received. A special thank you to Leasa Foster, who handled my case with exceptional professionalism, efficiency, and care throughout the entire process.Leasa kept me informed at every stage, responded promptly to my queries, and explained everything clearly, making what can often be a stressful experience feel smooth and straightforward. Her attention to detail and proactive approach ensured that everything progressed efficiently and without unnecessary delays.Thank you, Leasa and the Winston Solicitors team, for your excellent service! ⭐⭐⭐⭐⭐  
M K, North Yorkshire
Exceptional service from start to finish. Used for sale and purchase of home. Clear information, professional yet friendly and supportive throughout the process. Was kept up to date consistently via email or phone. Faultless! Excellent customer service. I would highly recommended Winston Solicitors.
Rebecca
The support from Leasa Foster and Julie Smith in the conveyancing team was superb. The automated systems means I got frequent updates and, when it came to a tight deadline at the time, they pulled out all of the stops to get the transactions over the line. Winstons provide a highly professional service - I would not hesitate to recommend.
Anonymous
Contact us