Advice

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

Leasa Foster

29 Sep 2023 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

Sidraa has just been amazing from start to finish. The sale was complicated one but nothing that Sidraa could not sort for us. We were selling my mothers home, so to have someone who was understanding, caring but also just damn right good at her job, really was appreciated with it being a sensitive situation for us. I would highly recommend Sidraa to anyone who needs to sell/purchase a property.

Julie S

Leasa (along with Julie and the rest of the team) were fantastic throughout the whole process of buying my first home. All of the stages from searches to completion were completed efficiently. Phone calls were answered instantly, every email I sent was replied to within a couple of hours, and Leasa was great at following up on delays from other parties in the chain. The advice I was received was consistently clear and I was kept up to date with the process throughout. Leasa was recommended to me by a friend, and I too would also highly recommend her conveyencing service.

Anonymous

Not a first time buyer but this was my first experience with Winston Solicitors and it was fantastic. Sidraa was my solicitor and she has been beyond brilliant. She has been outstanding. She has delivered an excellent service. She has dealt with inquiries promptly and efficiently and made the house transaction go smoothly. Thank you very much Sidraa and also, a special thank you to Tom McIlroy and the team at Winston Solicitors. Professional and efficient service from the start to completion, I would highly recommend them.

Anonymous

Leasa and Julie are fully professional and lovely to speak to over the phone. Very clear with the information given even to myself who has no idea about anything on the legal side of selling a property. Would highly recommend and will be using again for my house purchase.

Jack

I used Winston solicitors for the first time, to handle the sale of my property, on recommendation from my property agent. The conveyancing was done by Sidraa Razaq, who was assisted by Tom Mcillroy. I am delighted by their service. They were proessional in their communications and extremely efficient. I was kept informed at all times during the sale process, which was concluded with minimum fuss and disruption. I am very happy to recommend them and endorse their services.

Jatinder

Leasa and Julie were excellent in helping my partner and I buy our first home. They set out expectations in the first instance, and kept us updated, and it felt as though they really were on our side throughout. Thank you! - February 2025

Patrick S, Tadcaster

We were recommended Winstons by a family member who had used them.It was a fantastic recommendation.Leasa and the team supported us through our sale and purchase of a new property. We never needed to chase them, everything was done in a very timely manner and they were all extremely helpful.We have already recommended Winston's to another family member.

Hannah

I could not have asked for a better solicitor to help me through the process of buying my first house. Nothing was too much trouble and everything was so simple, clear and thorough. Incredibly professional and organised from start to finish. Winston Solicitors have made what could have been a very daunting and difficult process as smooth as it could have been and I would recommend them to anyone! Thank you Lease and team!

Peter

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