Is now the right time to get a mortgage?
Recent headlines about mortgage rates, inflation and the housing market have left many borrowers wondering whether now is the right time
to get a mortgage. At the start of the year, there were predictions that the Bank of England would continue to decrease the Base Rate. However, in the main thanks to the conflict in the Middle East, predictions are less confident.
While none of us has a crystal ball, we believe that expert information leads to you being in a more informed position. The time for you to move forward is not just about the latest headline, it also depends on your deposit, your income, the type of property you want to buy, and whether a suitable mortgage is available for your circumstances. We will take the time to review all of this with you.
At Your Mortgage Expert, we help clients understand what is happening in the market and whether it makes sense to act now or wait.
A MORTGAGE IS A LOAN SECURED AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
What is happening in the mortgage market?
Mortgage rates and lender criteria can change regularly, and that is one reason many buyers and home owners feel uncertain.
Some lenders increase rates, others reduce them and affordability rules can shift over time. House prices can also move up or down depending on wider market conditions.
This means there is not always one simple answer that applies to everyone. A market that feels difficult for one borrower may still offer good opportunities for another.
Is now a good time to get a mortgage? 
Whether now is the right time to get a mortgage depends on your personal circumstances.
If you have found the property you want, have a reasonable deposit and your income supports the borrowing you need, it may make sense to move forward rather than trying to second guess the market.
Trying to wait for the “perfect” moment can be difficult, because rates, house prices and lender criteria can all change and can be hard to predict.
In many cases, the better question is not whether the market is perfect, but whether now is the right time for you to buy or arrange a mortgage.
When might it make sense to get a mortgage?
It may make sense to act now if:
- you have found a property that suits your needs and budget
- you have a deposit ready
- your income and credit profile put you in a position to apply
- mortgage payments are affordable for your circumstances
- you want certainty rather than waiting for the market to change
For first time buyers in particular, moving forward can sometimes be better than waiting for ideal market conditions that may never arrive.
When might it make sense to wait?
It may make sense to wait if:
- you need more time to build your deposit
- your credit file needs improvement
- your income is changing and you want more stability
- you are not yet sure what you can comfortably afford
- you want advice before committing to a purchase
Waiting is not always a bad decision. In some cases, it makes sense to take a little more time can help you improve your deposit position, strengthen your credit profile or understand your budget more clearly.
What matters more than the headline mortgage rate?
The headline rate is important, but it is not the only thing that matters.
You should also think about:
- how much you can borrow
- your monthly payments
- your deposit size
- lender fees
- the type of mortgage deal
- flexibility if your circumstances change
- how long you expect to stay in the property
A slightly lower rate does not always mean a better overall outcome if the deal is not right for your plans.
How can a mortgage broker help?
A mortgage broker can help you understand whether now is a sensible time to apply based on your own circumstances, not just what is happening in the news.
At Your Mortgage Expert, we can help by:
- reviewing your budget and affordability
- explaining how current rates may affect you
- comparing suitable mortgage options
- helping you understand how much you may be able to borrow
- guiding you through the process from start to finish
Whether you are ready to move now or just want to understand your options, getting advice early can help you make a more confident decision.
Speak to the experts
If you are wondering whether now is the right time to get a mortgage, we are here to help. Not sure whether you are ready yet? We can still help you understand your options before you commit to anything.
Speak to Your Mortgage Expert for clear, practical mortgage advice based on your own circumstances.
To speak to a member of the mortgage advice team about your mortgage ring Your Mortgage Expert now on 01722 322683. Or visit www.your-mortgage-expert.co.uk and complete a contact us form and let us know when we can call you back.
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The information contained within this article was correct at the time of publication. It is intended for information only and should not be used as a basis for purchasing any products. We cannot be held responsible for something that was correct at the time but subsequently changes or goes out of date. For further information, contact Your Mortgage Expert on 01722 322683.
This article was updated in March 2026